StockNews.com Upgrades CorVel (NASDAQ:CRVL) to "Buy"

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL - Free Report) from a hold rating to a buy rating in a research report released on Wednesday morning.

CorVel Stock Up 1.6 %

Shares of CRVL traded up $1.73 during trading hours on Wednesday, reaching $110.27. 148,810 shares of the company traded hands, compared to its average volume of 103,962. The stock has a market capitalization of $5.66 billion, a P/E ratio of 64.87 and a beta of 1.16. The business has a fifty day moving average price of $122.71 and a 200-day moving average price of $113.99. CorVel has a 12-month low of $76.20 and a 12-month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (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 other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the transaction, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Hoops sold 10,200 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the completion of the transaction, the director now owns 118,213 shares of the company's stock, valued at approximately $13,758,811.07. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,773 shares of company stock worth $2,729,140 over the last three months. Company insiders own 47.57% of the company's stock.

Remove Ads

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC raised its position in shares of CorVel by 193.1% in the third quarter. FMR LLC now owns 4,306 shares of the business services provider's stock worth $1,408,000 after acquiring an additional 2,837 shares during the period. State Street Corp raised its position in shares of CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider's stock worth $117,703,000 after purchasing an additional 2,959 shares during the last quarter. Quest Partners LLC raised its position in shares of CorVel by 95.1% during the 3rd quarter. Quest Partners LLC now owns 3,596 shares of the business services provider's stock worth $1,175,000 after purchasing an additional 1,753 shares during the last quarter. SkyView Investment Advisors LLC raised its position in shares of CorVel by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 67 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of CorVel during the 3rd quarter worth about $213,000. 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. 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.