CorVel (NASDAQ:CRVL) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research report report published on Sunday.

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of CorVel in a report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

CorVel Price Performance

CRVL opened at $72.65 on Friday. The business’s 50-day moving average is $83.95 and its two-hundred day moving average is $98.58. CorVel has a 1 year low of $71.56 and a 1 year high of $128.61. The firm has a market capitalization of $3.73 billion, a PE ratio of 37.45 and a beta of 0.95.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. The company had revenue of $234.71 million for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Transactions at CorVel

In related news, CFO Brandon O’brien sold 1,764 shares of CorVel stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $91.54, for a total transaction of $161,476.56. Following the completion of the sale, the chief financial officer owned 8,948 shares of the company’s stock, valued at $819,099.92. The trade was a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Maxim Shishin sold 12,000 shares of CorVel stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total value of $1,069,920.00. Following the sale, the insider directly owned 7,050 shares of the company’s stock, valued at $628,578. This trade represents a 62.99% decrease in their position. The disclosure for this sale can be found here. Insiders own 44.56% of the company’s stock.

Institutional Investors Weigh In On CorVel

A number of institutional investors and hedge funds have recently modified their holdings of CRVL. Norges Bank acquired a new stake in shares of CorVel during the second quarter worth about $34,418,000. Thrivent Financial for Lutherans lifted its holdings in shares of CorVel by 187.9% during the second quarter. Thrivent Financial for Lutherans now owns 400,003 shares of the business services provider’s stock worth $41,112,000 after purchasing an additional 261,049 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of CorVel by 720.9% during the second quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock worth $10,533,000 after purchasing an additional 89,994 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in CorVel by 249.0% in the second quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock valued at $12,066,000 after acquiring an additional 83,757 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in CorVel by 23,616.8% in the first quarter. Jones Financial Companies Lllp now owns 78,977 shares of the business services provider’s stock valued at $8,843,000 after acquiring an additional 78,644 shares during the period. 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.