CorVel (NASDAQ:CRVL) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a report released on Wednesday morning.

CorVel Stock Performance

Shares of NASDAQ CRVL opened at $108.76 on Wednesday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 63.98 and a beta of 1.16. The stock’s fifty day moving average is $122.87 and its 200 day moving average is $113.87. CorVel has a 52 week low of $76.20 and a 52 week high of $128.61.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS 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, CFO Brandon O’brien sold 1,523 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the transaction, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the sale, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,773 shares of company stock worth $2,729,140 over the last three months. Corporate insiders own 47.57% of the company’s stock.

Hedge Funds Weigh In On CorVel

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Planning grew its stake in shares of CorVel by 18.8% during the third quarter. Creative Planning now owns 2,028 shares of the business services provider’s stock worth $663,000 after buying an additional 321 shares during the last quarter. Blue Trust Inc. grew its position in CorVel by 435.3% during the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after acquiring an additional 74 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in CorVel by 5.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock worth $293,000 after acquiring an additional 46 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in CorVel by 11.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,408 shares of the business services provider’s stock worth $460,000 after purchasing an additional 145 shares in the last quarter. Finally, Atria Investments Inc raised its position in CorVel by 8.6% in the third quarter. Atria Investments Inc now owns 4,234 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 335 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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.