CorVel (CRVL) Reaches New 12-Month High at $72.25

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CorVel Co. (NASDAQ:CRVL) reached a new 52-week high during trading on Friday . The company traded as high as $72.25 and last traded at $71.96, with a volume of 2847 shares trading hands. The stock had previously closed at $71.09.

Separately, BidaskClub upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Tuesday.

The stock has a market cap of $1.32 billion, a P/E ratio of 31.22 and a beta of 0.72.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, February 5th. The business services provider reported $0.54 EPS for the quarter. CorVel had a return on equity of 23.84% and a net margin of 7.45%. The firm had revenue of $146.08 million for the quarter.

In other CorVel news, major shareholder Corstar Holdings Inc sold 3,858 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $71.25, for a total value of $274,882.50. Following the sale, the insider now owns 6,828,238 shares in the company, valued at approximately $486,511,957.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman V Gordon Clemons sold 3,000 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $62.27, for a total value of $186,810.00. The disclosure for this sale can be found here. Insiders sold a total of 147,301 shares of company stock worth $9,908,575 in the last quarter. Corporate insiders own 51.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of CorVel by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 126,738 shares of the business services provider’s stock valued at $7,636,000 after purchasing an additional 1,498 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in shares of CorVel by 15.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 6,135 shares of the business services provider’s stock valued at $370,000 after purchasing an additional 810 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of CorVel by 8.9% during the 3rd quarter. AQR Capital Management LLC now owns 84,190 shares of the business services provider’s stock valued at $5,072,000 after purchasing an additional 6,901 shares in the last quarter. Legal & General Group Plc boosted its position in shares of CorVel by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 22,605 shares of the business services provider’s stock valued at $1,358,000 after purchasing an additional 821 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of CorVel by 11.1% during the 3rd quarter. Morgan Stanley now owns 120,056 shares of the business services provider’s stock valued at $7,233,000 after purchasing an additional 12,003 shares in the last quarter. Hedge funds and other institutional investors own 48.61% of the company’s stock.

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About CorVel (NASDAQ:CRVL)

CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.

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