CorVel (NASDAQ:CRVL) Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research note published on Friday.

CorVel Stock Performance

CorVel stock opened at $247.21 on Friday. The stock has a market cap of $4.23 billion, a PE ratio of 57.22 and a beta of 1.08. CorVel has a one year low of $187.92 and a one year high of $265.14. The stock has a fifty day moving average of $243.15 and a 200 day moving average of $232.35.

Insiders Place Their Bets

In other CorVel news, CFO Brandon O’brien sold 813 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $260.00, for a total value of $211,380.00. Following the completion of the sale, the chief financial officer now owns 7,299 shares in the company, valued at $1,897,740. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Brandon O’brien sold 813 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $260.00, for a total value of $211,380.00. Following the completion of the transaction, the chief financial officer now owns 7,299 shares of the company’s stock, valued at $1,897,740. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman V Gordon Clemons sold 1,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $264.00, for a total value of $264,000.00. Following the completion of the transaction, the chairman now directly owns 310,534 shares of the company’s stock, valued at approximately $81,980,976. The disclosure for this sale can be found here. Insiders sold a total of 11,543 shares of company stock worth $2,881,792 over the last quarter. 48.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CorVel

A number of hedge funds have recently made changes to their positions in CRVL. Raymond James Financial Services Advisors Inc. boosted its stake in CorVel by 77.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,876 shares of the business services provider’s stock valued at $2,689,000 after buying an additional 4,764 shares during the last quarter. Stifel Financial Corp grew its holdings in CorVel by 36.3% in the third quarter. Stifel Financial Corp now owns 23,982 shares of the business services provider’s stock worth $4,716,000 after purchasing an additional 6,385 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in CorVel by 17.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,426 shares of the business services provider’s stock valued at $280,000 after buying an additional 208 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of CorVel by 9.2% during the third quarter. Victory Capital Management Inc. now owns 52,452 shares of the business services provider’s stock valued at $10,315,000 after acquiring an additional 4,428 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in CorVel by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,317 shares of the business services provider’s stock valued at $14,024,000 after purchasing an additional 2,230 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

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.