CorVel (NASDAQ:CRVL) Stock Rating Upgraded by StockNews.com

CorVel (NASDAQ:CRVL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

CorVel Trading Up 0.2 %

CRVL stock opened at $238.64 on Thursday. The business’s fifty day moving average price is $244.34 and its 200 day moving average price is $230.32. CorVel has a 12-month low of $187.92 and a 12-month high of $265.14. The company has a market capitalization of $4.08 billion, a PE ratio of 55.24 and a beta of 1.07.

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

Insider Buying and Selling

In related news, Director Jean Macino sold 3,130 shares of the business’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 transaction of $793,204.60. Following the completion of the sale, the director now owns 14,160 shares in the company, valued at $3,588,427.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jean Macino sold 3,130 shares of the business’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 transaction of $793,204.60. Following the completion of the sale, the director now owns 14,160 shares in the company, valued at $3,588,427.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael G. Combs sold 301 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total value of $74,292.82. Following the sale, the chief executive officer now owns 21,082 shares of the company’s stock, valued at approximately $5,203,459.24. The disclosure for this sale can be found here. Insiders sold a total of 16,043 shares of company stock worth $3,960,007 over the last 90 days. 48.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Spire Wealth Management increased its position in CorVel by 815.0% during the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock worth $96,000 after buying an additional 326 shares during the period. Wesbanco Bank Inc. acquired a new position in CorVel during the first quarter worth approximately $693,000. Raymond James Financial Services Advisors Inc. increased its position in CorVel by 13.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,319 shares of the business services provider’s stock worth $3,239,000 after buying an additional 1,443 shares during the period. Chatham Capital Group Inc. increased its position in CorVel by 13.3% during the first quarter. Chatham Capital Group Inc. now owns 19,780 shares of the business services provider’s stock worth $5,201,000 after buying an additional 2,320 shares during the period. Finally, West Coast Financial LLC increased its position in CorVel by 1.3% during the first quarter. West Coast Financial LLC now owns 29,571 shares of the business services provider’s stock worth $7,776,000 after buying an additional 373 shares during the period. 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 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.