CorVel (NASDAQ:CRVL) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research report report published on Thursday.

CorVel Price Performance

Shares of CRVL stock opened at $114.96 on Thursday. CorVel has a 12-month low of $74.63 and a 12-month high of $127.24. The business has a 50 day simple moving average of $123.04 and a 200 day simple moving average of $106.53. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 24.41 and a beta of 1.14.

Insiders Place Their Bets

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

Institutional Investors Weigh In On CorVel

Large investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of CorVel by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock valued at $489,631,000 after acquiring an additional 21,673 shares during the period. JPMorgan Chase & Co. increased its position in CorVel by 106.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider’s stock worth $12,459,000 after purchasing an additional 19,667 shares during the last quarter. Barclays PLC raised its position in CorVel by 380.8% during the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock valued at $5,223,000 after acquiring an additional 12,654 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after purchasing an additional 9,571 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in CorVel during the third quarter valued at about $2,797,000. 51.36% of the stock is 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.