CorVel (NASDAQ:CRVL) Downgraded by StockNews.com to Hold

StockNews.com cut shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a report released on Tuesday morning.

CorVel Stock Up 1.1 %

CRVL opened at $254.27 on Tuesday. The business’s fifty day simple moving average is $250.64 and its 200 day simple moving average is $244.76. CorVel has a 52 week low of $187.92 and a 52 week high of $281.41. The stock has a market cap of $4.36 billion, a PE ratio of 57.79 and a beta of 1.11.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $1.12 EPS for the quarter. The firm had revenue of $207.23 million for the quarter. CorVel had a return on equity of 33.49% and a net margin of 9.59%.

Insider Activity

In other CorVel news, EVP Mark E. Bertels sold 200 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $231.14, for a total value of $46,228.00. Following the completion of the sale, the executive vice president now directly owns 858 shares of the company’s stock, valued at $198,318.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other CorVel news, EVP Mark E. Bertels sold 200 shares of CorVel stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $231.14, for a total value of $46,228.00. Following the transaction, the executive vice president now directly owns 858 shares of the company’s stock, valued at approximately $198,318.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman V Gordon Clemons sold 2,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $277.00, for a total value of $554,000.00. Following the sale, the chairman now directly owns 266,584 shares of the company’s stock, valued at approximately $73,843,768. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,200 shares of company stock valued at $1,574,528. Corporate insiders own 48.71% of the company’s stock.

Hedge Funds Weigh In On CorVel

Hedge funds have recently modified their holdings of the company. SkyView Investment Advisors LLC purchased a new stake in shares of CorVel during the first quarter worth about $1,118,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of CorVel in the 1st quarter worth approximately $375,000. Janus Henderson Group PLC increased its stake in shares of CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after buying an additional 42,696 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of CorVel by 9.3% during the first quarter. 1832 Asset Management L.P. now owns 1,861 shares of the business services provider’s stock valued at $489,000 after acquiring an additional 158 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in CorVel by 20.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock worth $274,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

About CorVel

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.