StockNews.com Downgrades CorVel (NASDAQ:CRVL) to Hold

StockNews.com downgraded shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

CorVel Trading Up 1.4 %

Shares of CRVL opened at $118.99 on Tuesday. The firm has a fifty day moving average price of $123.65 and a 200-day moving average price of $113.31. The firm has a market capitalization of $6.11 billion, a P/E ratio of 69.99 and a beta of 1.16. CorVel has a 12-month low of $76.20 and a 12-month high of $128.61.

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

Insider Activity at CorVel

In other news, EVP Mark E. Bertels sold 1,050 shares of CorVel stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $119.12, for a total value of $125,072.50. Following the completion of the transaction, the executive vice president now owns 2,580 shares in the company, valued at approximately $307,321. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brandon O’brien sold 1,523 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the sale, the chief financial officer now directly owns 17,142 shares in the company, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,573 shares of company stock valued at $1,541,962. 47.57% of the stock is owned by insiders.

Institutional Investors Weigh In On CorVel

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRVL. Blue Trust Inc. boosted its holdings in CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 74 shares during the last quarter. Advisors Asset Management Inc. boosted 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. LGT Financial Advisors LLC boosted its stake in shares of CorVel by 200.0% during the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after acquiring an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after buying an additional 254 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of CorVel during the third quarter worth $88,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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.