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

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

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $110.72 on Friday. The firm has a market capitalization of $5.69 billion, a PE ratio of 23.51 and a beta of 1.15. CorVel has a 52-week low of $74.63 and a 52-week high of $127.24. The firm has a fifty day moving average of $124.34 and a 200 day moving average of $107.88.

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total value of $125,072.50. Following the sale, the executive vice president now owns 2,580 shares in the company, valued at $307,321. This represents a 28.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 47.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in CorVel by 193.1% during the 3rd 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 during the last quarter. State Street Corp lifted its holdings in shares of CorVel by 0.8% during the third quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after purchasing an additional 2,959 shares in the last quarter. Quest Partners LLC increased its holdings in CorVel by 184,200.0% in the 2nd quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock worth $469,000 after buying an additional 1,842 shares in the last quarter. SkyView Investment Advisors LLC raised its position 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 buying an additional 67 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 during the period. Hedge funds and other 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.