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

StockNews.com downgraded shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

CorVel Trading Up 1.4 %

NASDAQ CRVL opened at $110.72 on Friday. The stock has a market cap of $5.69 billion, a P/E ratio of 23.51 and a beta of 1.15. The company’s fifty day simple moving average is $124.34 and its 200-day simple moving average is $107.88. CorVel has a 52 week low of $74.63 and a 52 week high of $127.24.

Insider Buying and Selling at CorVel

In related news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the sale, the executive vice president now owns 2,580 shares of the company’s stock, valued at $307,321. This represents a 28.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 47.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CorVel

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in CorVel by 1.1% in the 2nd 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 buying an additional 21,673 shares in the last quarter. JPMorgan Chase & Co. boosted its position in CorVel by 106.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider’s stock worth $12,459,000 after acquiring an additional 19,667 shares during the period. Barclays PLC grew its stake in shares of CorVel by 380.8% in the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock worth $5,223,000 after purchasing an additional 12,654 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CorVel by 3.9% during the third 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. Finally, Intech Investment Management LLC bought a new stake in shares of CorVel during the third quarter valued at about $2,797,000. Institutional investors and hedge funds 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.