StockNews.com Downgrades CorVel (NASDAQ:CRVL) to Hold

CorVel (NASDAQ:CRVL) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

CorVel Trading Up 0.8 %

NASDAQ:CRVL opened at $307.77 on Tuesday. The stock has a market capitalization of $5.28 billion, a PE ratio of 69.95 and a beta of 1.08. CorVel has a 1-year low of $187.92 and a 1-year high of $321.46. The firm has a fifty day simple moving average of $271.34 and a 200 day simple moving average of $255.67.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 EPS for the quarter. The firm had revenue of $211.72 million during the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%.

Insiders Place Their Bets

In related news, Chairman V Gordon Clemons sold 2,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $277.00, for a total value of $554,000.00. Following the sale, the chairman now owns 266,584 shares in the company, valued at approximately $73,843,768. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman V Gordon Clemons sold 2,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $277.00, for a total value of $554,000.00. Following the transaction, the chairman now owns 266,584 shares in the company, valued at approximately $73,843,768. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jennifer Yoss sold 1,214 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $300.88, for a total transaction of $365,268.32. Following the completion of the transaction, the vice president now directly owns 680 shares in the company, valued at $204,598.40. The disclosure for this sale can be found here. Insiders have sold a total of 75,131 shares of company stock valued at $20,442,395 over the last 90 days. 47.57% of the stock is currently owned by insiders.

Institutional Trading of CorVel

Several hedge funds have recently added to or reduced their stakes in CRVL. GAMMA Investing LLC increased its position in CorVel by 98.0% during the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after buying an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in CorVel by 474.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after acquiring an additional 147 shares during the period. Spire Wealth Management raised its stake in CorVel by 815.0% in the 1st quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock worth $96,000 after purchasing an additional 326 shares in the last quarter. AXS Investments LLC bought a new stake in CorVel in the 4th quarter valued at about $189,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of CorVel by 20.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock worth $274,000 after purchasing an additional 177 shares in the last quarter. 51.36% of the stock is 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.