CorVel (NASDAQ:CRVL) Upgraded to Buy at Wall Street Zen

Key Points

• CorVel has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating increased investor confidence.
• The company's stock has experienced a recent trading decline of 0.7%, opening at $72.65 with a market cap of $3.73 billion.
• Insider trading activity included significant sales by executives, with Maxim Shishin selling 12,000 shares and CFO Brandon O'Brien selling 1,764 shares, resulting in substantial decreases in their ownership stakes.

CorVel (NASDAQ:CRVL - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Sunday.

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

CorVel Trading Down 0.7%

CRVL stock opened at $72.65 on Friday. The firm has a market cap of $3.73 billion, a P/E ratio of 37.45 and a beta of 0.95. CorVel has a 12-month low of $71.56 and a 12-month high of $128.61. The stock's 50 day simple moving average is $83.95 and its 200 day simple moving average is $98.67.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. The business had revenue of $234.71 million for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Buying and Selling at CorVel

In other CorVel news, insider Maxim Shishin sold 12,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total value of $1,069,920.00. Following the sale, the insider directly owned 7,050 shares of the company's stock, valued at $628,578. This trade represents a 62.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brandon O'brien sold 1,764 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $91.54, for a total value of $161,476.56. Following the completion of the sale, the chief financial officer directly owned 8,948 shares in the company, valued at $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On CorVel

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its holdings in shares of CorVel by 44.7% during the first quarter. Farther Finance Advisors LLC now owns 816 shares of the business services provider's stock valued at $93,000 after purchasing an additional 252 shares during the period. GAMMA Investing LLC increased its holdings in shares of CorVel by 58.6% during 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 period. SG Americas Securities LLC increased 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 purchasing an additional 7,896 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of CorVel during the first quarter valued at $1,398,000. Finally, Wealth Enhancement Advisory Services LLC increased 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 purchasing an additional 461 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

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.

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