CorVel (NASDAQ:CRVL) Stock Rating Upgraded by StockNews.com

CorVel (NASDAQ:CRVL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

CorVel Stock Performance

CRVL opened at $108.54 on Wednesday. CorVel has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The company has a fifty day moving average of $122.81 and a two-hundred day moving average of $113.83. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 63.85 and a beta of 1.16.

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

Insider Buying and Selling at CorVel

In other news, Director Alan Hoops sold 10,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the transaction, the director now owns 118,213 shares of the company’s stock, valued at approximately $13,758,811.07. The trade was a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the transaction, the director now owns 314,000 shares in the company, valued at $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,773 shares of company stock worth $2,729,140. Insiders own 47.57% of the company’s stock.

Hedge Funds Weigh In On CorVel

Several large investors have recently made changes to their positions in CRVL. Blue Trust Inc. raised its holdings in shares of CorVel by 435.3% in the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after buying an additional 74 shares during the period. Advisors Asset Management Inc. increased its stake in CorVel by 121.7% during the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock worth $67,000 after purchasing an additional 112 shares during the period. LGT Financial Advisors LLC lifted its position in shares of CorVel by 200.0% during the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after purchasing an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of CorVel in the third quarter valued at approximately $88,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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.