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

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

CorVel Trading Down 0.7 %

Shares of CRVL stock traded down $0.86 during trading hours on Thursday, hitting $114.96. 85,747 shares of the company's stock were exchanged, compared to its average volume of 113,078. CorVel has a 12-month low of $74.63 and a 12-month high of $127.24. The company has a market capitalization of $1.97 billion, a PE ratio of 24.41 and a beta of 1.14. The business's 50 day simple moving average is $123.04 and its 200-day simple moving average is $106.53.

Insider Activity

In related news, EVP Mark E. Bertels sold 1,050 shares of CorVel stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total transaction of $125,072.50. Following the sale, the executive vice president now directly owns 2,580 shares in the company, valued at $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 47.57% of the company's stock.

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of CorVel by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider's stock worth $489,631,000 after purchasing an additional 21,673 shares during the last quarter. State Street Corp raised its holdings in CorVel by 0.8% during the third quarter. State Street Corp now owns 360,068 shares of the business services provider's stock valued at $117,703,000 after acquiring an additional 2,959 shares during the period. Geode Capital Management LLC raised its stake in CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider's stock valued at $83,000,000 after purchasing an additional 9,571 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CorVel by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider's stock worth $28,190,000 after buying an additional 6,061 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in CorVel by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider's stock worth $18,719,000 after purchasing an additional 1,479 shares in the last quarter. 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.

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