CorVel (NASDAQ:CRVL) Downgraded by BidaskClub to Hold

BidaskClub lowered shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a report released on Tuesday, January 9th.

Shares of CorVel (NASDAQ:CRVL) opened at $51.80 on Tuesday. CorVel has a 1 year low of $36.00 and a 1 year high of $61.20. The firm has a market cap of $976.05, a PE ratio of 30.83 and a beta of 0.73.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.44 earnings per share for the quarter. CorVel had a net margin of 6.01% and a return on equity of 22.68%. The company had revenue of $136.43 million for the quarter.

In related news, insider Maxim Shishin sold 1,000 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $57.26, for a total value of $57,260.00. Following the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $57,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 50.96% of the company’s stock.

Several large investors have recently modified their holdings of CRVL. SG Americas Securities LLC purchased a new position in shares of CorVel during the third quarter worth approximately $102,000. BNP Paribas Arbitrage SA increased its position in shares of CorVel by 57.8% during the second quarter. BNP Paribas Arbitrage SA now owns 3,061 shares of the business services provider’s stock worth $145,000 after acquiring an additional 1,121 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of CorVel by 58.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the business services provider’s stock worth $199,000 after acquiring an additional 1,350 shares during the period. Susquehanna International Group LLP purchased a new position in shares of CorVel during the second quarter worth approximately $201,000. Finally, Victory Capital Management Inc. increased its position in shares of CorVel by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,248 shares of the business services provider’s stock worth $202,000 after acquiring an additional 638 shares during the period. 43.65% of the stock is currently owned by institutional investors and hedge funds.

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About CorVel

CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.

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