CorVel (NASDAQ:CRVL) Reaches New 52-Week High - Time to Buy?

CorVel Co. (NASDAQ:CRVL - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $128.44 and last traded at $127.46, with a volume of 124812 shares traded. The stock had previously closed at $124.63.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research report on Friday, January 3rd.

CorVel Stock Performance

The company has a fifty day simple moving average of $123.76 and a two-hundred day simple moving average of $112.59. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 68.35 and a beta of 1.16.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Transactions at CorVel

In other news, EVP Mark E. Bertels sold 1,050 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now owns 2,580 shares of the company's stock, valued at approximately $307,321. The trade was a 28.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 47.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in CorVel by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,139 shares of the business services provider's stock valued at $1,307,000 after acquiring an additional 204 shares during the period. Creative Planning increased its holdings in CorVel by 7.0% in the second quarter. Creative Planning now owns 1,707 shares of the business services provider's stock valued at $434,000 after purchasing an additional 111 shares during the period. Sanctuary Advisors LLC bought a new position in CorVel during the 2nd quarter worth $650,000. Handelsbanken Fonder AB raised its position in CorVel by 12.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,800 shares of the business services provider's stock worth $588,000 after purchasing an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CorVel by 61.9% in the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the business services provider's stock valued at $51,000 after buying an additional 60 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.