Weiss Ratings Reaffirms "Hold (C)" Rating for CorVel (NASDAQ:CRVL)

Key Points

• Weiss Ratings has reaffirmed its "Hold (C)" rating for CorVel (NASDAQ:CRVL), while Wall Street Zen upgraded the stock from "hold" to "buy".
• CorVel's stock traded down to $71.06, significantly below its 52-week high of $128.61, with a market capitalization of $3.65 billion.
• Recent insider selling includes CFO Brandon O'Brien reducing his holdings by 16.47%, while corporate insiders collectively own 44.56% of the company's stock.

CorVel (NASDAQ:CRVL - Get Free Report)'s stock had its "hold (c)" rating restated by research analysts at Weiss Ratings in a research report issued to clients and investors on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a research report on Sunday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, CorVel currently has an average rating of "Hold".

CorVel Stock Performance

Shares of NASDAQ:CRVL traded down $0.36 during trading on Tuesday, hitting $71.06. The company's stock had a trading volume of 60,648 shares, compared to its average volume of 143,547. CorVel has a fifty-two week low of $70.48 and a fifty-two week high of $128.61. The stock's 50-day moving average price is $83.65 and its two-hundred day moving average price is $98.30. The company has a market capitalization of $3.65 billion, a PE ratio of 36.65 and a beta of 0.95.

CorVel (NASDAQ:CRVL - Get Free Report) last announced 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%.The firm had revenue of $234.71 million for the quarter.

Insider Buying and Selling

In related news, CFO Brandon O'brien sold 1,764 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 8,948 shares of the company's stock, valued at $819,099.92. This represents a 16.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 44.56% of the company's stock.

Hedge Funds Weigh In On CorVel

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in CorVel by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider's stock valued at $16,085,000 after purchasing an additional 3,818 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in CorVel by 44.7% during the 1st 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 in the last quarter. GAMMA Investing LLC boosted its stake in CorVel by 58.6% during the 1st 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 in the last quarter. KBC Group NV boosted its stake in CorVel by 35.1% during the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider's stock valued at $175,000 after purchasing an additional 406 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in CorVel by 3.3% during the 1st 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 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.

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