CorVel (NASDAQ:CRVL) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

CorVel (NASDAQ CRVL) traded down $0.05 on Friday, reaching $53.50. The company had a trading volume of 23,700 shares, compared to its average volume of 33,485. The company has a market capitalization of $1,009.03, a PE ratio of 31.85 and a beta of 0.72. CorVel has a 1-year low of $36.00 and a 1-year high of $61.20.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, October 31st. The business services provider reported $0.44 EPS for the quarter. CorVel had a return on equity of 22.68% and a net margin of 6.01%. The business had revenue of $136.43 million for the quarter.

In other news, insider Maxim Shishin sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $57.26, for a total transaction of $57,260.00. Following the transaction, the insider now directly owns 1,000 shares of the company’s stock, valued at $57,260. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 50.96% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of CorVel by 45.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,596 shares of the business services provider’s stock worth $550,000 after purchasing an additional 3,641 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of CorVel by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 780,106 shares of the business services provider’s stock worth $37,016,000 after purchasing an additional 9,196 shares during the period. Numeric Investors LLC boosted its holdings in shares of CorVel by 26.9% during the second quarter. Numeric Investors LLC now owns 59,050 shares of the business services provider’s stock worth $2,802,000 after purchasing an additional 12,500 shares during the period. Parametric Portfolio Associates LLC boosted its holdings in shares of CorVel by 31.3% during the second quarter. Parametric Portfolio Associates LLC now owns 19,180 shares of the business services provider’s stock worth $910,000 after purchasing an additional 4,572 shares during the period. Finally, Citadel Advisors LLC boosted its holdings in shares of CorVel by 47.3% during the second quarter. Citadel Advisors LLC now owns 10,567 shares of the business services provider’s stock worth $501,000 after purchasing an additional 3,391 shares during the period. 43.66% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “CorVel (CRVL) Downgraded by BidaskClub to Buy” was originally posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/12/29/corvel-crvl-downgraded-by-bidaskclub-to-buy.html.

About CorVel

CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.

Receive News & Ratings for CorVel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CorVel and related companies with MarketBeat.com's FREE daily email newsletter.