CorVel (NASDAQ:CRVL) Stock Rating Lowered by StockNews.com

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

CorVel Stock Up 0.0 %

Shares of NASDAQ:CRVL traded up $0.06 during trading on Wednesday, hitting $239.55. 31,935 shares of the stock traded hands, compared to its average volume of 35,603. The company has a fifty day moving average price of $249.80 and a two-hundred day moving average price of $241.46. CorVel has a 52-week low of $187.92 and a 52-week high of $281.41. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 54.44 and a beta of 1.11.

Insider Transactions at CorVel

In other news, CFO Brandon O'brien sold 1,000 shares of the business's stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now owns 7,305 shares of the company's stock, valued at $2,023,119.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brandon O'brien sold 1,000 shares of the business's stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now directly owns 7,305 shares in the company, valued at $2,023,119.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman V Gordon Clemons sold 2,000 shares of the firm's stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total value of $554,000.00. Following the completion of the transaction, the chairman now owns 266,584 shares in the company, valued at approximately $73,843,768. The disclosure for this sale can be found here. Corporate insiders own 48.71% of the company's stock.

Institutional Investors Weigh In On CorVel

A number of large investors have recently made changes to their positions in CRVL. Benjamin F. Edwards & Company Inc. lifted its holdings in CorVel by 474.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider's stock valued at $47,000 after acquiring an additional 147 shares during the last quarter. Spire Wealth Management raised its holdings in CorVel by 815.0% in the 1st quarter. Spire Wealth Management now owns 366 shares of the business services provider's stock valued at $96,000 after buying an additional 326 shares during the period. AXS Investments LLC purchased a new position in CorVel during the fourth quarter worth about $189,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of CorVel during the fourth quarter valued at about $264,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of CorVel by 20.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider's stock valued at $274,000 after acquiring an additional 177 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.