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

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

CorVel Stock Performance

CRVL stock opened at $350.29 on Wednesday. The stock’s 50 day simple moving average is $338.22 and its 200 day simple moving average is $306.02. The company has a market cap of $6.00 billion, a P/E ratio of 74.37 and a beta of 1.14. CorVel has a fifty-two week low of $223.89 and a fifty-two week high of $381.73.

Analyst Ratings Changes

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

In other news, EVP Mark E. Bertels sold 350 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $357.35, for a total transaction of $125,072.50. Following the completion of the sale, the executive vice president now owns 860 shares of the company’s stock, valued at approximately $307,321. This represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 47.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of CorVel by 9.9% in the 3rd 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 increased its position in CorVel by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 124 shares during the period. SkyView Investment Advisors LLC raised its holdings 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 boosted 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 valued at $83,000,000 after purchasing an additional 9,571 shares in the last quarter. Finally, Barclays PLC increased its position in shares of CorVel by 380.8% during the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock valued at $5,223,000 after buying an additional 12,654 shares during the period. 51.36% of the stock is 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.