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

CorVel (NASDAQ:CRVL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

CorVel Stock Up 3.1 %

CorVel stock opened at $106.65 on Thursday. The business’s 50-day simple moving average is $112.21 and its 200 day simple moving average is $114.07. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 62.74 and a beta of 1.06. 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 results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Activity at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the transaction, the director now owns 568,310 shares in the company, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the transaction, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock worth $3,824,115 over the last 90 days. Insiders own 47.57% of the company’s stock.

Hedge Funds Weigh In On CorVel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVL. LGT Financial Advisors LLC raised its position in shares of CorVel by 200.0% during the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after purchasing an additional 170 shares during the period. Bessemer Group Inc. raised its position in shares of CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp raised its position in shares of CorVel by 45.9% during the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the fourth quarter worth about $37,000. Finally, US Bancorp DE raised its position in shares of CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after purchasing an additional 266 shares during the period. 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.