StockNews.com cut shares of CorVel (NASDAQ:CRVL - Free Report) from a buy rating to a hold rating in a research note released on Friday.
CorVel Price Performance
Shares of NASDAQ:CRVL traded up $1.56 during trading on Friday, hitting $110.72. 94,824 shares of the company were exchanged, compared to its average volume of 156,962. The firm's 50 day moving average price is $124.34 and its 200-day moving average price is $107.88. CorVel has a 12-month low of $74.63 and a 12-month high of $127.24. The stock has a market capitalization of $5.69 billion, a P/E ratio of 23.51 and a beta of 1.15.
Insiders Place Their Bets
In other news, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total value of $125,072.50. Following the completion of the sale, the executive vice president now directly owns 2,580 shares of the company's stock, valued at approximately $307,321. This represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 47.57% of the company's stock.
Institutional Trading of CorVel
Several institutional investors and hedge funds have recently bought and sold shares of CRVL. Blue Trust Inc. raised its holdings in shares of CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider's stock valued at $30,000 after buying an additional 74 shares during the last quarter. GAMMA Investing LLC raised its stake in CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after acquiring an additional 275 shares during the last quarter. Advisors Asset Management Inc. lifted its position in CorVel by 121.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider's stock worth $67,000 after acquiring an additional 112 shares during the period. Point72 DIFC Ltd purchased a new position in shares of CorVel in the 3rd quarter valued at approximately $88,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of CorVel in the 3rd quarter valued at approximately $102,000. Hedge funds and other institutional investors own 51.36% of the company's stock.
About CorVel
(
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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.
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