StockNews.com cut shares of CorVel (NASDAQ:CRVL - Free Report) from a buy rating to a hold rating in a report released on Thursday.
CorVel Stock Down 0.4 %
Shares of CRVL traded down $0.44 during mid-day trading on Thursday, hitting $106.21. The stock had a trading volume of 72,739 shares, compared to its average volume of 105,604. CorVel has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The company has a market cap of $5.45 billion, a PE ratio of 62.48 and a beta of 1.06. The company's fifty day simple moving average is $112.15 and its two-hundred day simple moving average is $114.21.
CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.
Insider Buying and Selling
In other news, CFO Brandon O'brien sold 1,523 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the transaction, the chief financial officer now owns 17,142 shares in the company, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey J. Michael sold 10,477 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the sale, the director now directly owns 568,310 shares in the company, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock worth $3,824,115 over the last quarter. 47.57% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of CorVel by 193.7% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock worth $635,779,000 after buying an additional 3,768,440 shares during the period. Vanguard Group Inc. raised its stake in CorVel by 202.1% during the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after acquiring an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC boosted its position in CorVel by 184.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock worth $206,813,000 after acquiring an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP grew its stake 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 worth $171,969,000 after purchasing an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake 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 worth $94,074,000 after purchasing an additional 567,984 shares in the last quarter. Institutional investors own 51.36% of the company's stock.
CorVel Company Profile
(
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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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