CorVel (NASDAQ:CRVL – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
CorVel Stock Performance
CRVL opened at $106.65 on Thursday. The business has a 50 day moving average price of $112.21 and a 200 day moving average price of $114.07. CorVel has a twelve month low of $76.20 and a twelve month high of $128.61. The firm has a market cap of $5.48 billion, a P/E ratio of 62.74 and a beta of 1.06.
CorVel (NASDAQ:CRVL – Get Free Report) last posted its earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.
Insiders Place Their Bets
Institutional Trading of CorVel
A number of institutional investors and hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of CorVel by 193.7% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider’s stock valued at $635,779,000 after purchasing an additional 3,768,440 shares during the period. Vanguard Group Inc. grew its position in CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock valued at $365,116,000 after acquiring an additional 2,195,466 shares during the period. Renaissance Technologies LLC grew its position in CorVel by 184.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock valued at $206,813,000 after acquiring an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP grew its position in CorVel by 187.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock valued at $171,969,000 after acquiring an additional 1,007,651 shares during the period. Finally, Neuberger Berman Group LLC grew its position in CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after acquiring an additional 567,984 shares during the period. 51.36% of the stock is currently owned by institutional investors.
CorVel Company Profile
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.
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