CorVel (NASDAQ:CRVL) Downgraded by StockNews.com

StockNews.com cut shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a report issued on Tuesday.

CorVel Stock Performance

CorVel stock opened at $316.81 on Tuesday. The firm’s 50 day moving average price is $272.89 and its two-hundred day moving average price is $256.09. The firm has a market cap of $5.44 billion, a PE ratio of 72.00 and a beta of 1.08. CorVel has a twelve month low of $187.92 and a twelve month high of $321.46.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share (EPS) for the quarter. CorVel had a return on equity of 33.26% and a net margin of 9.55%. The business had revenue of $211.72 million during the quarter.

Insider Buying and Selling

In other news, VP Jennifer Yoss sold 1,214 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $300.88, for a total transaction of $365,268.32. Following the transaction, the vice president now owns 680 shares in the company, valued at approximately $204,598.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Jennifer Yoss sold 1,214 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $300.88, for a total transaction of $365,268.32. Following the completion of the sale, the vice president now owns 680 shares in the company, valued at approximately $204,598.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael G. Combs sold 2,473 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $300.99, for a total value of $744,348.27. Following the completion of the transaction, the chief executive officer now directly owns 16,823 shares in the company, valued at $5,063,554.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,131 shares of company stock worth $20,442,395. Insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC increased its position in CorVel by 997.8% in the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after buying an additional 42,696 shares during the period. Quadrature Capital Ltd bought a new position in CorVel during the fourth quarter worth $887,000. SG Americas Securities LLC acquired a new position in CorVel during the 1st quarter valued at $896,000. Sei Investments Co. boosted its holdings in CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after purchasing an additional 8,338 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in CorVel by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after purchasing an additional 2,252 shares during the last quarter. 51.36% of the stock is owned by institutional investors.

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.