CorVel (NASDAQ:CRVL) Stock Rating Lowered by StockNews.com

by · The Markets Daily

CorVel (NASDAQ:CRVL – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

CorVel Stock Performance

NASDAQ CRVL traded down $0.41 during trading hours on Thursday, reaching $103.48. 74,181 shares of the company’s stock were exchanged, compared to its average volume of 102,041. The company’s 50-day moving average is $112.29 and its two-hundred day moving average is $114.06. CorVel has a one year low of $76.20 and a one year high of $128.61. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 60.87 and a beta of 1.06.

CorVel (NASDAQ:CRVL – Get Free Report) last posted its 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 Buying and Selling

In other news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the transaction, the director now directly owns 568,310 shares of the company’s stock, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the transaction, the director now directly owns 118,213 shares of the company’s stock, valued at $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Several hedge funds have recently made changes to their positions in CRVL. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of CorVel by 193.7% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider’s stock worth $635,779,000 after acquiring an additional 3,768,440 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CorVel by 202.1% in the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock valued at $365,116,000 after buying an additional 2,195,466 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of CorVel by 184.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock valued at $206,813,000 after buying an additional 1,204,611 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CorVel by 187.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock valued at $171,969,000 after buying an additional 1,007,651 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of CorVel by 204.6% in the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after buying an additional 567,984 shares during the last quarter. 51.36% of the stock is owned by institutional investors.

CorVel Company Profile

(Get Free Report)

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.

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