CorVel (NASDAQ:CRVL) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research report released on Friday morning.

CorVel Stock Performance

Shares of CorVel stock opened at $110.72 on Friday. The firm has a 50-day moving average of $124.34 and a 200-day moving average of $108.05. CorVel has a 52-week low of $74.63 and a 52-week high of $127.24. The stock has a market cap of $5.69 billion, a PE ratio of 23.51 and a beta of 1.15.

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total transaction of $125,072.50. Following the sale, the executive vice president now owns 2,580 shares in the company, valued at approximately $307,321. This trade represents a 28.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 47.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CorVel

Large investors have recently modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of CorVel by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after buying an additional 21,673 shares during the last quarter. State Street Corp lifted its holdings in shares of CorVel by 0.8% in the third quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock worth $117,703,000 after acquiring an additional 2,959 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CorVel by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after purchasing an additional 9,571 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CorVel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock valued at $28,190,000 after purchasing an additional 6,061 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in CorVel by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock worth $18,719,000 after purchasing an additional 1,479 shares in the last quarter. Institutional investors and hedge funds 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.