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

StockNews.com cut shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

CorVel Trading Down 0.4 %

NASDAQ:CRVL opened at $103.48 on Thursday. The company has a 50-day moving average price of $112.29 and a 200-day moving average price of $114.06. CorVel has a 12 month low of $76.20 and a 12 month high of $128.61. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 60.87 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Insider Transactions at CorVel

In related news, Director Jeffrey J. Michael sold 10,477 shares of CorVel stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the transaction, the director now directly owns 568,310 shares of the company’s stock, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the transaction, the director now directly owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,200 shares of company stock valued at $3,824,115. Company insiders own 47.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRVL. SkyView Investment Advisors LLC increased its stake in CorVel by 1.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 67 shares in the last quarter. Fifth Third Bancorp increased its stake in CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Advisors Asset Management Inc. increased its stake in CorVel by 121.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 112 shares in the last quarter. Sanctuary Advisors LLC increased its stake in CorVel by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock valued at $931,000 after purchasing an additional 124 shares in the last quarter. Finally, LGT Financial Advisors LLC increased its stake in CorVel by 200.0% during the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 170 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

About CorVel

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.