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

StockNews.com cut shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a report published on Tuesday morning.

CorVel Stock Performance

NASDAQ CRVL opened at $114.27 on Tuesday. CorVel has a one year low of $76.20 and a one year high of $128.61. The company has a 50-day simple moving average of $123.65 and a 200-day simple moving average of $113.48. The firm has a market capitalization of $5.87 billion, a PE ratio of 67.22 and a beta of 1.16.

CorVel (NASDAQ:CRVL) last posted its quarterly 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 Activity at CorVel

In related news, EVP Mark E. Bertels sold 1,050 shares of CorVel stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the sale, the executive vice president now directly owns 2,580 shares in the company, valued at $307,321. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brandon O’brien sold 1,523 shares of CorVel stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the sale, the chief financial officer now owns 17,142 shares in the company, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,773 shares of company stock worth $2,729,140 in the last ninety days. 47.57% of the stock is owned by insiders.

Institutional Trading of CorVel

Several hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of CorVel by 193.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider’s stock worth $635,779,000 after acquiring an additional 3,768,440 shares during the period. Vanguard Group Inc. lifted 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 worth $365,116,000 after purchasing an additional 2,195,466 shares during the period. Renaissance Technologies LLC lifted 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 worth $206,813,000 after purchasing an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP boosted its stake in CorVel by 187.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock valued at $171,969,000 after purchasing an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of CorVel by 204.6% during the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after purchasing an additional 567,984 shares during the period. 51.36% of the stock is currently owned by institutional investors.

About CorVel

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.