CorVel (NASDAQ:CRVL) Raised to “Buy” at StockNews.com

CorVel (NASDAQ:CRVL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

CorVel Trading Up 2.2 %

NASDAQ:CRVL traded up $6.72 during mid-day trading on Friday, hitting $314.57. 32,367 shares of the company’s stock were exchanged, compared to its average volume of 37,064. The company has a 50 day simple moving average of $281.87 and a 200-day simple moving average of $259.28. CorVel has a fifty-two week low of $187.92 and a fifty-two week high of $321.46. The firm has a market capitalization of $5.40 billion, a P/E ratio of 71.49 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share (EPS) for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the sale, the chief financial officer now owns 6,502 shares in the company, valued at approximately $2,047,999.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director R Judd Jessup sold 2,131 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $295.21, for a total value of $629,092.51. Following the completion of the sale, the director now owns 43,277 shares in the company, valued at approximately $12,775,803.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the sale, the chief financial officer now owns 6,502 shares of the company’s stock, valued at approximately $2,047,999.96. The disclosure for this sale can be found here. Insiders have sold 73,131 shares of company stock worth $19,926,425 in the last quarter. Company insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after acquiring an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of CorVel by 474.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after acquiring an additional 147 shares in the last quarter. Spire Wealth Management grew its stake in shares of CorVel by 815.0% in the 1st quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock worth $96,000 after acquiring an additional 326 shares in the last quarter. AXS Investments LLC bought a new position in CorVel during the fourth quarter valued at about $189,000. Finally, Aristides Capital LLC purchased a new stake in CorVel during the second quarter worth about $210,000. 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.