CorVel (NASDAQ:CRVL) Hits New 1-Year High – What’s Next?

CorVel Co. (NASDAQ:CRVL)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $370.00 and last traded at $365.59, with a volume of 9060 shares traded. The stock had previously closed at $360.19.

Analyst Upgrades and Downgrades

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

CorVel Stock Up 2.8 %

The company’s fifty day moving average price is $324.27 and its two-hundred day moving average price is $294.44. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 78.65 and a beta of 1.10.

Hedge Funds Weigh In On CorVel

A number of large investors have recently added to or reduced their stakes in CRVL. Blue Trust Inc. boosted its position in shares of CorVel by 435.3% during the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after buying an additional 74 shares during the period. GAMMA Investing LLC boosted its position in CorVel by 98.0% during the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after acquiring an additional 48 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of CorVel by 121.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock worth $67,000 after acquiring an additional 112 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of CorVel in the third quarter valued at approximately $88,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CorVel in the third quarter worth $102,000. 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.