CorVel (NASDAQ:CRVL) Rating Lowered to “Hold” at StockNews.com

CorVel (NASDAQ:CRVL) 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) 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

In other CorVel news, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now directly owns 118,213 shares of the company’s stock, valued at $13,758,811.07. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock valued at $3,824,115 in the last three months. Company insiders own 47.57% of the company’s stock.

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.