CorVel (NASDAQ:CRVL) Upgraded 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 Thursday.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $238.12 on Thursday. CorVel has a 1 year low of $187.92 and a 1 year high of $265.14. The company has a market cap of $4.07 billion, a PE ratio of 55.12 and a beta of 1.07. The stock’s 50-day moving average is $244.52 and its 200 day moving average is $230.07.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.99 earnings per share (EPS) for the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.69%. The company had revenue of $202.30 million for the quarter.

Insiders Place Their Bets

In other CorVel news, Chairman V Gordon Clemons sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $264.00, for a total transaction of $264,000.00. Following the transaction, the chairman now owns 310,534 shares in the company, valued at approximately $81,980,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jean Macino sold 3,130 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $253.42, for a total value of $793,204.60. Following the sale, the director now owns 14,160 shares in the company, valued at approximately $3,588,427.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman V Gordon Clemons sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $264.00, for a total value of $264,000.00. Following the completion of the sale, the chairman now owns 310,534 shares in the company, valued at approximately $81,980,976. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,043 shares of company stock worth $3,960,007. Company insiders own 48.71% of the company’s stock.

Hedge Funds Weigh In On CorVel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRVL. SG Americas Securities LLC bought a new position in CorVel in the 3rd quarter valued at approximately $853,000. Exchange Traded Concepts LLC lifted its holdings in shares of CorVel by 2,627.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,973 shares of the business services provider’s stock valued at $585,000 after buying an additional 2,864 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in shares of CorVel by 14.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,485 shares of the business services provider’s stock valued at $292,000 after buying an additional 190 shares during the period. Raymond James & Associates lifted its holdings in shares of CorVel by 34.1% during the 3rd quarter. Raymond James & Associates now owns 59,060 shares of the business services provider’s stock valued at $11,614,000 after buying an additional 15,030 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of CorVel by 70.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,112 shares of the business services provider’s stock valued at $1,202,000 after buying an additional 2,517 shares during the period. 51.36% of the stock is owned by institutional investors.

CorVel Company Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.