CorVel (NASDAQ:CRVL) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research note published on Monday.

CorVel Stock Down 1.1 %

Shares of CorVel stock opened at $116.78 on Monday. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 68.69 and a beta of 1.16. CorVel has a 52-week low of $76.20 and a 52-week high of $128.61. The company’s 50-day simple moving average is $123.67 and its 200-day simple moving average is $112.91.

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

Insider Buying and Selling

In related news, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark E. Bertels sold 1,050 shares of the firm’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 transaction, the executive vice president now owns 2,580 shares of the company’s stock, valued at $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 47.57% of the stock is owned by insiders.

Hedge Funds Weigh In On CorVel

Several hedge funds have recently bought and sold shares of CRVL. Creative Planning raised its stake in CorVel by 7.0% in the 2nd quarter. Creative Planning now owns 1,707 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 111 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of CorVel in the second quarter valued at approximately $650,000. Handelsbanken Fonder AB lifted its stake in shares of CorVel by 12.5% during the third quarter. Handelsbanken Fonder AB now owns 1,800 shares of the business services provider’s stock valued at $588,000 after buying an additional 200 shares during the period. GAMMA Investing LLC boosted its position in CorVel by 61.9% during the third quarter. GAMMA Investing LLC now owns 157 shares of the business services provider’s stock worth $51,000 after acquiring an additional 60 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in CorVel during the third quarter worth approximately $208,000. Hedge funds and other institutional investors 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.