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

StockNews.com downgraded shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

CorVel Trading Up 1.1 %

NASDAQ:CRVL opened at $254.27 on Tuesday. The company has a market capitalization of $4.36 billion, a P/E ratio of 57.79 and a beta of 1.11. CorVel has a 12 month low of $187.92 and a 12 month high of $281.41. The firm has a fifty day simple moving average of $250.64 and a 200-day simple moving average of $244.76.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $1.12 EPS for the quarter. The company had revenue of $207.23 million during the quarter. CorVel had a return on equity of 33.49% and a net margin of 9.59%.

Insider Buying and Selling

In other CorVel news, Chairman V Gordon Clemons sold 2,000 shares of CorVel stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the completion of the sale, the chairman now directly 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 is accessible through this hyperlink. In related news, Chairman V Gordon Clemons sold 2,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the completion of the transaction, the chairman now owns 266,584 shares of the company’s stock, valued at $73,843,768. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now directly owns 7,305 shares in the company, valued at $2,023,119.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,200 shares of company stock worth $1,574,528. 48.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRVL. Benjamin F. Edwards & Company Inc. grew its stake in shares of CorVel by 474.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after purchasing an additional 147 shares during the period. Spire Wealth Management grew 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 valued at $96,000 after buying an additional 326 shares during the period. AXS Investments LLC acquired a new stake in CorVel during the fourth quarter valued at $189,000. Vanguard Personalized Indexing Management LLC purchased a new position in CorVel in the fourth quarter valued at $264,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of CorVel by 20.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock worth $274,000 after acquiring an additional 177 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

About CorVel

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.