CorVel (NASDAQ:CRVL) Rating Lowered to Hold at 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 report issued on Saturday.

CorVel Trading Down 1.4%

NASDAQ CRVL traded down $1.19 during trading on Friday, reaching $85.97. The company's stock had a trading volume of 124,203 shares, compared to its average volume of 134,160. The stock has a market capitalization of $4.41 billion, a PE ratio of 44.31 and a beta of 0.96. CorVel has a 1-year low of $84.81 and a 1-year high of $128.61. The business has a 50-day moving average price of $92.50 and a 200-day moving average price of $103.98.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Insider Transactions at CorVel

In other news, insider Maxim Shishin sold 12,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the sale, the insider owned 7,050 shares in the company, valued at approximately $628,578. This represents a 62.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brandon O'brien sold 3,957 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the transaction, the chief financial officer directly owned 11,804 shares in the company, valued at $1,280,261.84. The trade was a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,357 shares of company stock valued at $1,758,512 in the last ninety days. Insiders own 44.56% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CRVL. Xponance Inc. lifted its position in CorVel by 4.9% during the 1st quarter. Xponance Inc. now owns 2,008 shares of the business services provider's stock worth $225,000 after acquiring an additional 94 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of CorVel by 4.2% in the first quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider's stock valued at $283,000 after acquiring an additional 102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CorVel by 0.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider's stock valued at $1,640,000 after acquiring an additional 115 shares during the period. The Manufacturers Life Insurance Company grew its position in CorVel by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider's stock worth $1,636,000 after purchasing an additional 139 shares during the last quarter. Finally, Mayfair Advisory Group LLC increased its holdings in shares of CorVel by 7.2% during the 1st quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock worth $248,000 after purchasing an additional 148 shares during the period. Institutional investors own 51.36% of the company's stock.

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.