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

CorVel (NASDAQ:CRVL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

CorVel Stock Performance

Shares of CRVL opened at $238.64 on Thursday. The firm has a market cap of $4.08 billion, a PE ratio of 55.24 and a beta of 1.07. The firm’s 50 day moving average price is $244.34 and its 200 day moving average price is $230.32. CorVel has a twelve month low of $187.92 and a twelve month high of $265.14.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.99 earnings per share for the quarter. The firm had revenue of $202.30 million for the quarter. CorVel had a net margin of 9.69% and a return on equity of 34.66%.

Insider Activity at CorVel

In other CorVel news, CEO Michael G. Combs sold 301 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total transaction of $74,292.82. Following the transaction, the chief executive officer now owns 21,082 shares in the company, valued at $5,203,459.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other CorVel news, CEO Michael G. Combs sold 301 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total transaction of $74,292.82. Following the transaction, the chief executive officer now owns 21,082 shares in the company, valued at $5,203,459.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael G. Combs sold 1,799 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $248.41, for a total value of $446,889.59. Following the transaction, the chief executive officer now owns 19,283 shares in the company, valued at approximately $4,790,090.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,043 shares of company stock valued at $3,960,007. 48.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management grew its stake 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 worth $96,000 after acquiring an additional 326 shares during the last quarter. Wesbanco Bank Inc. acquired a new stake in shares of CorVel in the first quarter worth $693,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of CorVel by 13.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 12,319 shares of the business services provider’s stock worth $3,239,000 after acquiring an additional 1,443 shares during the last quarter. Chatham Capital Group Inc. grew its stake in shares of CorVel by 13.3% in the first quarter. Chatham Capital Group Inc. now owns 19,780 shares of the business services provider’s stock worth $5,201,000 after acquiring an additional 2,320 shares during the last quarter. Finally, West Coast Financial LLC grew its stake in shares of CorVel by 1.3% in the first quarter. West Coast Financial LLC now owns 29,571 shares of the business services provider’s stock worth $7,776,000 after acquiring an additional 373 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Company Profile

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.