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 note released on Monday morning.

CorVel Price Performance

CRVL stock opened at $117.39 on Monday. CorVel has a 52-week low of $76.20 and a 52-week high of $128.61. The company has a 50-day moving average of $123.76 and a two-hundred day moving average of $112.68. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 69.05 and a beta of 1.16.

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

Insider Activity at CorVel

In related news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 2,580 shares of the company’s stock, valued at $307,321. This trade represents a 28.93 % decrease in their position. The disclosure for this sale can be found here. 47.57% of the stock is owned by corporate insiders.

Institutional Trading of CorVel

Several hedge funds have recently modified their holdings of the company. First Trust Direct Indexing L.P. increased its holdings in shares of CorVel by 5.4% during the third quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock worth $293,000 after buying an additional 46 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CorVel by 61.9% in the third quarter. GAMMA Investing LLC now owns 157 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 60 shares in the last quarter. Ellsworth Advisors LLC increased its holdings in shares of CorVel by 2.7% in the third quarter. Ellsworth Advisors LLC now owns 2,340 shares of the business services provider’s stock valued at $765,000 after purchasing an additional 61 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of CorVel by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 67 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

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.