CorVel (NASDAQ:CRVL) Cut to Hold at StockNews.com

CorVel (NASDAQ:CRVL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

CorVel Trading Down 1.9 %

NASDAQ CRVL opened at $109.16 on Friday. The company has a 50 day moving average of $124.15 and a 200-day moving average of $107.69. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 23.18 and a beta of 1.14. CorVel has a 1-year low of $74.63 and a 1-year high of $127.24.

Insider Transactions at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the sale, the executive vice president now directly owns 2,580 shares of the company’s stock, valued at approximately $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 hyperlink. 47.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Several hedge funds have recently made changes to their positions in the stock. SkyView Investment Advisors LLC raised its holdings in shares of CorVel by 0.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 4,284 shares of the business services provider’s stock valued at $1,089,000 after buying an additional 34 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of CorVel by 2.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,143 shares of the business services provider’s stock valued at $545,000 after acquiring an additional 46 shares in the last quarter. Arizona State Retirement System boosted its holdings in CorVel by 1.8% in the second quarter. Arizona State Retirement System now owns 2,632 shares of the business services provider’s stock valued at $669,000 after acquiring an additional 46 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of CorVel by 5.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 46 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of CorVel by 61.9% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the business services provider’s stock worth $51,000 after acquiring an additional 60 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

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.