CorVel (NASDAQ:CRVL) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

CorVel Price Performance

NASDAQ CRVL opened at $238.12 on Thursday. The firm has a market cap of $4.07 billion, a P/E ratio of 55.12 and a beta of 1.07. The stock’s 50-day moving average is $244.52 and its 200-day moving average is $230.07. CorVel has a one year low of $187.92 and a one year high of $265.14.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, January 30th. The business services provider reported $0.99 EPS for the quarter. The firm had revenue of $202.30 million for the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.69%.

Insiders Place Their Bets

In other CorVel news, Director Jean Macino sold 3,130 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $253.42, for a total transaction of $793,204.60. Following the transaction, the director now owns 14,160 shares of the company’s stock, valued at approximately $3,588,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael G. Combs sold 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total transaction of $74,292.82. Following the transaction, the chief executive officer now directly owns 21,082 shares of the company’s stock, valued at approximately $5,203,459.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jean Macino sold 3,130 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $253.42, for a total value of $793,204.60. Following the transaction, the director now directly owns 14,160 shares in the company, valued at $3,588,427.20. The disclosure for this sale can be found here. Insiders have sold 16,043 shares of company stock valued at $3,960,007 in the last 90 days. 48.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRVL. Raymond James Financial Services Advisors Inc. grew its holdings in CorVel by 77.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,876 shares of the business services provider’s stock valued at $2,689,000 after buying an additional 4,764 shares in the last quarter. Stifel Financial Corp grew its holdings in CorVel by 36.3% in the 3rd quarter. Stifel Financial Corp now owns 23,982 shares of the business services provider’s stock valued at $4,716,000 after buying an additional 6,385 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in CorVel by 17.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,426 shares of the business services provider’s stock valued at $280,000 after buying an additional 208 shares in the last quarter. Victory Capital Management Inc. grew its holdings in CorVel by 9.2% in the 3rd quarter. Victory Capital Management Inc. now owns 52,452 shares of the business services provider’s stock valued at $10,315,000 after buying an additional 4,428 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CorVel by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,317 shares of the business services provider’s stock valued at $14,024,000 after buying an additional 2,230 shares in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Company Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.