StockNews.com Downgrades CorVel (NASDAQ:CRVL) to Hold

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

CorVel Stock Performance

Shares of CRVL opened at $119.47 on Tuesday. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 70.28 and a beta of 1.16. The stock’s fifty day moving average is $123.65 and its 200-day moving average is $113.44. CorVel has a one year low of $76.20 and a one year high of $128.61.

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

Insiders Place Their Bets

In other news, EVP Mark E. Bertels sold 1,050 shares of CorVel stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the transaction, the executive vice president now owns 2,580 shares of the company’s stock, valued at $307,321. The trade was a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brandon O’brien sold 1,523 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,573 shares of company stock worth $1,541,962 over the last ninety days. Company insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Institutional investors and hedge funds have recently modified their holdings of the stock. LGT Financial Advisors LLC grew its holdings in shares of CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after acquiring an additional 170 shares during the last quarter. Bessemer Group Inc. increased its stake in CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Blue Trust Inc. raised its holdings in CorVel by 435.3% during the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after buying an additional 74 shares during the period. Fifth Third Bancorp raised its holdings in CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in CorVel during the fourth quarter valued at about $37,000. Institutional investors and hedge funds 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.