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

CorVel Co. (NASDAQ:CRVL)’s stock is set to split before the market opens on Thursday, December 26th. The 3-1 split was announced on Friday, December 13th. The newly issued shares will be distributed to shareholders after the market closes on Monday, December 23rd.

CorVel Price Performance

CorVel stock opened at $345.72 on Friday. CorVel has a 12 month low of $223.89 and a 12 month high of $381.73. The business has a 50 day simple moving average of $339.90 and a 200-day simple moving average of $307.64. The stock has a market capitalization of $5.92 billion, a PE ratio of 73.40 and a beta of 1.14.

Analysts Set New Price Targets

Separately, StockNews.com cut 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 business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $357.35, for a total value of $125,072.50. Following the completion of the sale, the executive vice president now directly owns 860 shares of the company’s stock, valued at $307,321. The trade was a 28.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 47.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CRVL. Kayne Anderson Rudnick Investment Management LLC raised its position in CorVel by 1.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after purchasing an additional 21,673 shares during the period. Barclays PLC lifted its position in CorVel by 380.8% in the third 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of CorVel by 3.9% during the third quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after purchasing an additional 9,571 shares during the period. Intech Investment Management LLC bought a new position in shares of CorVel in the third quarter worth approximately $2,797,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of CorVel in the second quarter worth $1,937,000. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

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.