CorVel (NASDAQ:CRVL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a report published on Friday.

CorVel Trading Up 0.3%

Shares of CRVL opened at $78.64 on Friday. The business’s 50-day moving average price is $87.11 and its 200 day moving average price is $100.98. The stock has a market capitalization of $4.04 billion, a P/E ratio of 40.54 and a beta of 0.96. CorVel has a 1-year low of $77.66 and a 1-year high of $128.61.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Buying and Selling

In other news, insider Maxim Shishin sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the completion of the sale, the insider directly owned 7,050 shares of the company’s stock, valued at $628,578. This represents a 62.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $161,476.56. Following the completion of the sale, the chief financial officer directly owned 8,948 shares of the company’s stock, valued at $819,099.92. This trade 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 corporate insiders.

Institutional Trading of CorVel

A number of hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in shares of CorVel during the 1st quarter valued at about $25,000. von Borstel & Associates Inc. bought a new position in CorVel in the 1st quarter worth approximately $28,000. Hantz Financial Services Inc. bought a new position in CorVel in the 2nd quarter worth approximately $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of CorVel during the second quarter valued at approximately $37,000. Finally, Blue Trust Inc. increased its position in shares of CorVel by 235.4% during the second quarter. Blue Trust Inc. now owns 550 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 386 shares during the period. 51.36% of the stock is owned by hedge funds and other 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.