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 report report published on Friday.

CorVel Stock Performance

Shares of CorVel stock opened at $242.51 on Friday. The stock has a market capitalization of $4.15 billion, a P/E ratio of 56.14 and a beta of 1.08. CorVel has a 52-week low of $187.92 and a 52-week high of $265.14. The stock’s 50-day simple moving average is $243.19 and its 200 day simple moving average is $232.03.

Insider Buying and Selling at CorVel

In other news, Director Steven J. Hamerslag sold 2,000 shares of CorVel stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $239.95, for a total value of $479,900.00. Following the completion of the transaction, the director now directly owns 114,389 shares in the company, valued at $27,447,640.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jean Macino sold 3,130 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $253.42, for a total transaction of $793,204.60. Following the sale, the director now owns 14,160 shares of the company’s stock, valued at approximately $3,588,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Hamerslag sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $239.95, for a total transaction of $479,900.00. Following the sale, the director now directly owns 114,389 shares in the company, valued at approximately $27,447,640.55. The disclosure for this sale can be found here. Insiders have sold 11,543 shares of company stock valued at $2,881,792 in the last 90 days. 48.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CorVel

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in CorVel during the 3rd quarter valued at $853,000. Raymond James & Associates lifted its position in shares of CorVel by 34.1% in the 3rd quarter. Raymond James & Associates now owns 59,060 shares of the business services provider’s stock worth $11,614,000 after purchasing an additional 15,030 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of CorVel by 70.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 6,112 shares of the business services provider’s stock worth $1,202,000 after purchasing an additional 2,517 shares during the period. Teacher Retirement System of Texas lifted its position in shares of CorVel by 9.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 9,329 shares of the business services provider’s stock worth $1,835,000 after purchasing an additional 815 shares during the period. Finally, West Coast Financial LLC increased its stake in shares of CorVel by 3.3% in the 3rd quarter. West Coast Financial LLC now owns 14,683 shares of the business services provider’s stock worth $2,887,000 after acquiring an additional 463 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

About CorVel

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.