StockNews.com Downgrades CorVel (NASDAQ:CRVL) to Hold

CorVel (NASDAQ:CRVLGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

CorVel Price Performance

NASDAQ:CRVL opened at $239.49 on Wednesday. The business’s 50-day simple moving average is $250.18 and its 200-day simple moving average is $241.47. CorVel has a fifty-two week low of $187.92 and a fifty-two week high of $281.41. The stock has a market capitalization of $4.10 billion, a PE ratio of 54.43 and a beta of 1.11.

Insider Buying and Selling

In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $276.95, for a total value of $276,950.00. Following the sale, the chief financial officer now owns 7,305 shares in the company, valued at approximately $2,023,119.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the transaction, the chief financial officer now directly owns 7,305 shares of the company’s stock, valued at $2,023,119.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman V Gordon Clemons sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $277.00, for a total value of $554,000.00. Following the transaction, the chairman now directly owns 266,584 shares in the company, valued at approximately $73,843,768. The disclosure for this sale can be found here. Company insiders own 48.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its stake in CorVel by 474.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 147 shares during the last quarter. Spire Wealth Management lifted its position in shares of CorVel by 815.0% in the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after buying an additional 326 shares during the last quarter. AXS Investments LLC bought a new position in shares of CorVel during the 4th quarter worth approximately $189,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of CorVel during the 4th quarter worth approximately $264,000. Finally, O Shaughnessy Asset Management LLC raised its stake in CorVel by 20.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock valued at $274,000 after acquiring an additional 177 shares during the period. Institutional investors own 51.36% of the company’s stock.

CorVel Company Profile

(Get Free Report)

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.

Further Reading

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