CorVel (NASDAQ:CRVL) Cut to Hold at StockNews.com

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

CorVel Stock Up 1.4 %

Shares of CRVL stock opened at $110.72 on Friday. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 23.51 and a beta of 1.15. CorVel has a 12-month low of $74.63 and a 12-month high of $127.24. The firm has a fifty day moving average of $124.34 and a 200-day moving average of $108.05.

Insider Activity

In other news, EVP Mark E. Bertels sold 1,050 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total value of $125,072.50. Following the completion of the sale, the executive vice president now owns 2,580 shares of the company’s stock, valued at approximately $307,321. This represents a 28.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 47.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in shares of CorVel by 435.3% during the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after acquiring an additional 74 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of CorVel by 61.9% in the third quarter. GAMMA Investing LLC now owns 157 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 60 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 112 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of CorVel during the 3rd quarter worth about $88,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of CorVel during the 3rd quarter worth about $102,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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.