CorVel (NASDAQ:CRVL) Sees Unusually-High Trading Volume – Should You Buy?

CorVel Corp. (NASDAQ:CRVL) saw strong trading volume on Monday . Approximately 153,790 shares traded hands during trading, a decline of 29% from the previous session’s volume of 217,971 shares.The stock last traded at $71.3550 and had previously closed at $69.27.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings upgraded shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, CorVel has an average rating of “Hold”.

CorVel Trading Up 2.8%

The firm has a market capitalization of $3.63 billion, a P/E ratio of 31.63 and a beta of 0.97. The stock has a 50-day simple moving average of $64.70 and a two-hundred day simple moving average of $59.72.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. The business had revenue of $259.93 million for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.

Insider Transactions at CorVel

In other news, Director R. Jessup sold 4,023 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total value of $281,891.61. Following the completion of the sale, the director owned 111,798 shares of the company’s stock, valued at approximately $7,833,685.86. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Yoss sold 2,100 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $70.92, for a total transaction of $148,932.00. Following the transaction, the vice president owned 2,173 shares in the company, valued at approximately $154,109.16. This represents a 49.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 8,947 shares of company stock worth $630,420 in the last three months. Insiders own 39.72% of the company’s stock.

Hedge Funds Weigh In On CorVel

Large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CorVel by 0.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider’s stock valued at $1,640,000 after purchasing an additional 115 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of CorVel by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider’s stock worth $1,636,000 after buying an additional 139 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of CorVel by 0.7% during the second quarter. WINTON GROUP Ltd now owns 22,772 shares of the business services provider’s stock worth $1,424,000 after buying an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of CorVel by 18.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,228 shares of the business services provider’s stock worth $77,000 after buying an additional 195 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of CorVel by 66.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after buying an additional 230 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

CorVel Corporation is a provider of workers’ compensation and liability claims management services. The company supports employers, insurance carriers, government entities and other organizations with technology-enabled solutions designed to manage claims, control costs and coordinate medical care.

Its services include third-party claims administration, medical bill review, utilization review, case management, pharmacy benefit management, provider-network services and claims-related analytics.