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

CorVel (NASDAQ:CRVL - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of CorVel in a research note on Saturday, September 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold".

CorVel Trading Up 0.6%

Shares of CRVL opened at $73.83 on Friday. CorVel has a 52 week low of $72.15 and a 52 week high of $128.61. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 38.06 and a beta of 0.95. The stock has a 50 day moving average of $85.41 and a 200-day moving average of $99.98.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings data 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 other news, CFO Brandon O'brien sold 1,764 shares of the 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 transaction, the chief financial officer owned 8,948 shares of the company's stock, valued at approximately $819,099.92. This represents a 16.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maxim Shishin sold 12,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 7,050 shares in the company, valued at $628,578. This trade represents a 62.99% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 44.56% of the company's stock.

Hedge Funds Weigh In On CorVel

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. lifted its position in shares of 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 buying an additional 94 shares during the period. Ballentine Partners LLC lifted its position in shares of CorVel by 4.2% during the 1st quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider's stock worth $283,000 after buying an additional 102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CorVel by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider's stock worth $1,640,000 after buying an additional 115 shares during the period. The Manufacturers Life Insurance Company raised 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 valued at $1,636,000 after purchasing an additional 139 shares during the last quarter. Finally, Mayfair Advisory Group LLC raised its position in CorVel by 7.2% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock valued at $248,000 after purchasing an additional 148 shares during the last quarter. 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.

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