CorVel (NASDAQ:CRVL) Downgraded to Hold Rating by Wall Street Zen

Key Points

• CorVel has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, indicating a shift in analyst sentiment regarding the stock's performance.
• As of recent trading, CRVL stock is valued at $89.05, with a market capitalization of $4.57 billion and a price-to-earnings ratio of 45.90.
• Insider selling activity has been notable, with CFO Brandon O'Brien and insider Maxim Shishin selling shares, decreasing their positions significantly in recent months.

Wall Street Zen cut shares of CorVel (NASDAQ:CRVL - Free Report) from a buy rating to a hold rating in a research report released on Saturday morning.

CorVel Stock Down 0.0%

Shares of CRVL traded down $0.04 during trading hours on Friday, hitting $87.12. The company had a trading volume of 3,687 shares, compared to its average volume of 133,569. CorVel has a 52-week low of $85.13 and a 52-week high of $128.61. The firm has a market cap of $4.47 billion, a P/E ratio of 44.91 and a beta of 0.96. The stock's 50 day moving average price is $92.82 and its 200 day moving average price is $104.20.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) 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 3,957 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $108.46, for a total transaction of $429,176.22. Following the transaction, the chief financial officer owned 11,804 shares in the company, valued at $1,280,261.84. The trade was a 25.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Maxim Shishin sold 12,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the transaction, the insider owned 7,050 shares in the company, valued at approximately $628,578. This represents a 62.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,357 shares of company stock worth $1,758,512. 44.56% of the stock is owned by company insiders.

Institutional Trading of CorVel

Several large investors have recently bought and sold shares of CRVL. Meeder Asset Management Inc. bought a new stake in CorVel during the 1st quarter valued at approximately $25,000. von Borstel & Associates Inc. bought a new stake in CorVel during the 1st quarter valued at approximately $28,000. Hantz Financial Services Inc. bought a new stake in CorVel during the 2nd quarter valued at approximately $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in CorVel during the 2nd quarter valued at approximately $37,000. Finally, Blue Trust Inc. boosted its position in CorVel by 235.4% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the business services provider's stock valued at $57,000 after acquiring an additional 386 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

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.