CorVel (NASDAQ:CRVL) Upgraded to "Buy" at StockNews.com

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL - Free Report) from a hold rating to a buy rating in a research note issued to investors on Friday.

CorVel Price Performance

CorVel stock traded up $4.23 during trading hours on Friday, reaching $117.10. The company had a trading volume of 3,367 shares, compared to its average volume of 111,322. The company has a 50-day moving average price of $110.94 and a 200 day moving average price of $115.46. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 68.88 and a beta of 0.94. CorVel has a 12-month low of $76.53 and a 12-month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last posted 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 Activity

In other news, Director Jeffrey J. Michael sold 10,477 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $116.45, for a total value of $1,220,046.65. Following the transaction, the director now owns 568,310 shares of the company's stock, valued at approximately $66,179,699.50. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,723 shares of company stock valued at $5,757,140 over the last ninety days. 47.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mayfair Advisory Group LLC grew its holdings in 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 acquiring an additional 148 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of CorVel by 3.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,345 shares of the business services provider's stock valued at $1,606,000 after buying an additional 461 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of CorVel during the first quarter valued at $1,398,000. SG Americas Securities LLC grew its holdings in shares of CorVel by 519.5% during the first quarter. SG Americas Securities LLC now owns 9,416 shares of the business services provider's stock valued at $1,054,000 after buying an additional 7,896 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in CorVel by 58.6% in the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider's stock valued at $77,000 after purchasing an additional 253 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

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.