CorVel (NASDAQ:CRVL) Upgraded to “Buy” at StockNews.com

CorVel (NASDAQ:CRVL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

CorVel Stock Down 1.1 %

Shares of NASDAQ:CRVL opened at $113.74 on Thursday. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 24.15 and a beta of 1.14. The business has a 50 day moving average price of $123.41 and a 200 day moving average price of $106.84. CorVel has a twelve month low of $74.63 and a twelve month high of $127.24.

Insider Transactions at CorVel

In related 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 transaction of $125,072.50. Following the sale, the executive vice president now directly owns 2,580 shares of the company’s stock, valued at $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 47.57% of the stock is currently owned by corporate insiders.

Institutional Trading of CorVel

A number of hedge funds have recently modified their holdings of the company. FMR LLC raised its stake in shares of CorVel by 193.1% in the third quarter. FMR LLC now owns 4,306 shares of the business services provider’s stock valued at $1,408,000 after purchasing an additional 2,837 shares in the last quarter. State Street Corp increased its holdings in CorVel by 0.8% in the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after buying an additional 2,959 shares during the period. Quest Partners LLC raised its stake in shares of CorVel by 184,200.0% in the 2nd quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock valued at $469,000 after buying an additional 1,842 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of CorVel during the 3rd quarter worth about $213,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of CorVel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock valued at $28,190,000 after acquiring an additional 6,061 shares in the last quarter. 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.