CorVel (NASDAQ:CRVL) Stock Rating Lowered by StockNews.com

CorVel (NASDAQ:CRVL) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

CorVel Price Performance

Shares of CRVL opened at $110.72 on Friday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 23.51 and a beta of 1.15. CorVel has a one year low of $74.63 and a one year high of $127.24. The business has a fifty day moving average of $124.34 and a 200 day moving average of $107.88.

Insider Activity

In related news, EVP Mark E. Bertels sold 1,050 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 2,580 shares in the company, valued at approximately $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 47.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CRVL. Everence Capital Management Inc. increased its stake in shares of CorVel by 192.5% in the 4th quarter. Everence Capital Management Inc. now owns 6,990 shares of the business services provider’s stock worth $778,000 after purchasing an additional 4,600 shares in the last quarter. GAMMA Investing LLC grew its holdings in CorVel by 175.2% during the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 275 shares during the period. JPMorgan Chase & Co. increased its position in CorVel by 106.6% in the third quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider’s stock worth $12,459,000 after buying an additional 19,667 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of CorVel by 9.9% in the third quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock worth $614,000 after buying an additional 173 shares during the period. Finally, Sanctuary Advisors LLC lifted its position in shares of CorVel by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock valued at $931,000 after buying an additional 124 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

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.