CorVel (NASDAQ:CRVL) Lowered to “Hold” Rating by StockNews.com

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

CorVel Stock Performance

Shares of CRVL stock opened at $110.72 on Friday. CorVel has a 1 year low of $74.63 and a 1 year high of $127.24. The business’s fifty day moving average is $124.34 and its 200-day moving average is $107.88. The stock has a market cap of $5.69 billion, a PE ratio of 23.51 and a beta of 1.15.

Insiders Place Their Bets

In other news, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the sale, the executive vice president now owns 2,580 shares in the company, valued at approximately $307,321. This represents a 28.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 47.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On CorVel

Institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of CorVel by 106.6% in the third quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider’s stock worth $12,459,000 after buying an additional 19,667 shares during the period. Barclays PLC increased its position in shares of CorVel by 380.8% in the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock worth $5,223,000 after acquiring an additional 12,654 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 acquiring an additional 9,571 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of CorVel in the 3rd quarter valued at approximately $2,797,000. 51.36% of the stock is owned by institutional investors and hedge funds.

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.