CorVel (NASDAQ:CRVL) Downgraded by StockNews.com

StockNews.com lowered shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a report issued on Friday.

CorVel Trading Up 0.4 %

CRVL stock traded up $0.94 during midday trading on Friday, reaching $242.51. The stock had a trading volume of 22,564 shares, compared to its average volume of 28,803. CorVel has a 52-week low of $187.92 and a 52-week high of $265.14. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 56.14 and a beta of 1.08. The company’s fifty day simple moving average is $243.41 and its 200 day simple moving average is $231.37.

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

Insider Transactions at CorVel

In related news, Director Steven J. Hamerslag sold 2,000 shares of CorVel stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $239.95, for a total transaction of $479,900.00. Following the transaction, the director now owns 114,389 shares in the company, valued at $27,447,640.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Steven J. Hamerslag sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $239.95, for a total value of $479,900.00. Following the completion of the sale, the director now owns 114,389 shares of the company’s stock, valued at $27,447,640.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael G. Combs sold 301 shares of CorVel stock in a transaction dated 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 in the company, valued at $5,203,459.24. The disclosure for this sale can be found here. Insiders have sold a total of 11,543 shares of company stock worth $2,881,792 in the last ninety days. Insiders own 48.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of CorVel in the 3rd quarter valued at $853,000. Raymond James & Associates lifted its position in CorVel by 34.1% in the third quarter. Raymond James & Associates now owns 59,060 shares of the business services provider’s stock valued at $11,614,000 after buying an additional 15,030 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in CorVel by 70.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 6,112 shares of the business services provider’s stock worth $1,202,000 after buying an additional 2,517 shares during the period. Teacher Retirement System of Texas increased its position in shares of CorVel by 9.6% during the third quarter. Teacher Retirement System of Texas now owns 9,329 shares of the business services provider’s stock valued at $1,835,000 after acquiring an additional 815 shares during the last quarter. Finally, West Coast Financial LLC raised its stake in shares of CorVel by 3.3% in the 3rd quarter. West Coast Financial LLC now owns 14,683 shares of the business services provider’s stock valued at $2,887,000 after acquiring an additional 463 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

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.