CorVel Stock Set to Split on Thursday, December 26th (NASDAQ:CRVL)

Shares of CorVel Co. (NASDAQ:CRVL - Free Report) are scheduled to split on Thursday, December 26th. The 3-1 split was announced on Friday, December 13th. The newly created shares will be distributed to shareholders after the closing bell on Monday, December 23rd.

CorVel Price Performance

Shares of CRVL stock opened at $350.29 on Wednesday. The stock's fifty day moving average price is $338.22 and its 200 day moving average price is $306.02. CorVel has a 1-year low of $223.89 and a 1-year high of $381.73. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 74.37 and a beta of 1.14.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CorVel from a "buy" rating to a "hold" rating in a report on Saturday, August 31st.

Insider Buying and Selling at CorVel

In related news, EVP Mark E. Bertels sold 350 shares of the firm's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $357.35, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now owns 860 shares of the company's stock, valued at $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 47.57% of the company's stock.

Hedge Funds Weigh In On CorVel

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of CorVel by 9.9% in the third quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock worth $614,000 after buying an additional 173 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in CorVel by 4.6% in the third quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider's stock valued at $931,000 after acquiring an additional 124 shares during the period. SkyView Investment Advisors LLC boosted its position in CorVel by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 67 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider's stock worth $83,000,000 after purchasing an additional 9,571 shares during the period. Finally, Barclays PLC increased its holdings in shares of CorVel by 380.8% during the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider's stock valued at $5,223,000 after purchasing an additional 12,654 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

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.