CorVel (NASDAQ:CRVL) Stock Rating Lowered by 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 Tuesday.

CorVel Stock Performance

NASDAQ:CRVL opened at $119.47 on Tuesday. The company has a market capitalization of $6.14 billion, a P/E ratio of 70.28 and a beta of 1.16. The stock’s 50 day moving average price is $123.65 and its 200 day moving average price is $113.44. CorVel has a 52 week low of $76.20 and a 52 week high of $128.61.

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

Insider Transactions at CorVel

In related news, EVP Mark E. Bertels sold 1,050 shares of the business’s 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 completion of the transaction, the executive vice president now owns 2,580 shares of the company’s stock, valued at approximately $307,321. The trade was a 28.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,573 shares of company stock worth $1,541,962. 47.57% of the stock is owned by insiders.

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 valued at $28,000 after buying an additional 170 shares during the last quarter. Bessemer Group Inc. increased its stake in CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Blue Trust Inc. raised its holdings in CorVel by 435.3% in the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 74 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after acquiring an additional 101 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the 4th quarter worth approximately $37,000. 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.