CorVel (NASDAQ:CRVL) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of CorVel in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, CorVel presently has a consensus rating of “Hold”.

CorVel Stock Performance

Shares of CRVL stock opened at $74.61 on Friday. The firm has a market cap of $3.83 billion, a P/E ratio of 38.46 and a beta of 0.95. CorVel has a fifty-two week low of $72.15 and a fifty-two week high of $128.61. The business’s 50 day moving average price is $85.14 and its 200-day moving average price is $99.64.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data 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 Transactions at CorVel

In other news, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction dated 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 owned 8,948 shares of the company’s stock, valued at $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider directly owned 7,050 shares of the company’s stock, valued at approximately $628,578. The trade was 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVL. Squarepoint Ops LLC bought a new position in CorVel during the fourth quarter valued at approximately $269,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of CorVel by 184.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,884 shares of the business services provider’s stock valued at $1,545,000 after purchasing an additional 8,998 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of CorVel by 17,654.4% in the 1st quarter. GAMMA Investing LLC now owns 76,699 shares of the business services provider’s stock valued at $8,588,000 after purchasing an additional 76,267 shares during the last quarter. Impact Capital Partners LLC lifted its stake in shares of CorVel by 8.3% in the 1st quarter. Impact Capital Partners LLC now owns 7,568 shares of the business services provider’s stock valued at $847,000 after purchasing an additional 583 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of CorVel by 44.7% in 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 during 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.