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

CorVel (NASDAQ:CRVL - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

CorVel Trading Down 5.0 %

CRVL stock traded down $5.73 during trading on Tuesday, hitting $108.54. 109,297 shares of the company's stock were exchanged, compared to its average volume of 103,420. The business has a 50-day moving average price of $123.57 and a two-hundred day moving average price of $113.48. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 63.85 and a beta of 1.16. CorVel has a 52-week low of $76.20 and a 52-week 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 for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Buying and Selling at CorVel

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the business's 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 owns 2,580 shares in the company, valued at approximately $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the business's stock in a transaction that occurred on 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 sale, the director now owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,773 shares of company stock worth $2,729,140. 47.57% of the stock is owned by insiders.

Institutional Investors Weigh In On CorVel

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRVL. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of CorVel by 193.7% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock valued at $635,779,000 after purchasing an additional 3,768,440 shares during the period. Vanguard Group Inc. increased its holdings in shares of CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after purchasing an additional 2,195,466 shares during the period. Renaissance Technologies LLC increased its holdings in shares of CorVel by 184.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after purchasing an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of CorVel by 187.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock valued at $171,969,000 after purchasing an additional 1,007,651 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in shares of CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock valued at $94,074,000 after purchasing an additional 567,984 shares during the period. Hedge funds and other institutional investors 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.