CorVel (NASDAQ:CRVL) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of CorVel (NASDAQ:CRVL) from a hold rating to a buy rating in a research report sent to investors on Thursday.

CorVel Stock Performance

NASDAQ CRVL opened at $238.64 on Thursday. The firm has a 50-day simple moving average of $244.34 and a 200 day simple moving average of $230.50. CorVel has a twelve month low of $187.92 and a twelve month high of $265.14. The stock has a market cap of $4.08 billion, a PE ratio of 55.24 and a beta of 1.07.

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

Insiders Place Their Bets

In other CorVel news, VP Jennifer Yoss sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $239.41, for a total transaction of $359,115.00. Following the completion of the transaction, the vice president now owns 512 shares in the company, valued at $122,577.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Jennifer Yoss sold 1,500 shares of CorVel stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $239.41, for a total value of $359,115.00. Following the completion of the transaction, the vice president now owns 512 shares in the company, valued at $122,577.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman V Gordon Clemons sold 1,000 shares of CorVel stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $264.00, for a total transaction of $264,000.00. Following the completion of the transaction, the chairman now owns 310,534 shares of the company’s stock, valued at approximately $81,980,976. The disclosure for this sale can be found here. Insiders sold a total of 16,043 shares of company stock worth $3,960,007 over the last quarter. Company insiders own 48.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Spire Wealth Management raised 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 valued at $96,000 after acquiring an additional 326 shares during the last quarter. AXS Investments LLC acquired a new stake in shares of CorVel in the fourth quarter valued at approximately $189,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of CorVel in the fourth quarter valued at approximately $264,000. SkyOak Wealth LLC acquired a new stake in shares of CorVel in the fourth quarter valued at approximately $325,000. Finally, Trexquant Investment LP increased its holdings in shares of CorVel by 34.1% in the third quarter. Trexquant Investment LP now owns 1,426 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 363 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

About CorVel

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.