CorVel (NASDAQ:CRVL) Rating Increased to Buy at StockNews.com

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

CorVel Trading Down 0.6 %

Shares of NASDAQ CRVL traded down $1.55 during mid-day trading on Thursday, hitting $238.12. The company had a trading volume of 23,992 shares, compared to its average volume of 34,907. The firm has a 50-day simple moving average of $244.52 and a two-hundred day simple moving average of $230.07. The company has a market capitalization of $4.07 billion, a PE ratio of 55.12 and a beta of 1.07. CorVel has a one year low of $187.92 and a one year high of $265.14.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results 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 during the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.69%.

Insider Activity

In other CorVel news, CEO Michael G. Combs sold 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total value of $74,292.82. Following the sale, the chief executive officer now owns 21,082 shares in the company, valued at $5,203,459.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Jean Macino sold 3,130 shares of CorVel stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $253.42, for a total transaction of $793,204.60. Following the completion of the sale, the director now owns 14,160 shares of the company’s stock, valued at approximately $3,588,427.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael G. Combs sold 301 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $246.82, for a total transaction of $74,292.82. Following the completion of the transaction, the chief executive officer now owns 21,082 shares in the company, valued at approximately $5,203,459.24. The disclosure for this sale can be found here. Insiders sold a total of 16,043 shares of company stock valued at $3,960,007 in the last quarter. Company insiders own 48.71% of the company’s stock.

Institutional Investors Weigh In On CorVel

Institutional investors have recently made changes to their positions in the company. Spire Wealth Management boosted 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 acquiring an additional 326 shares during the period. Wesbanco Bank Inc. bought a new stake in CorVel in the 1st quarter valued at about $693,000. Raymond James Financial Services Advisors Inc. grew its position in shares of CorVel by 13.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 12,319 shares of the business services provider’s stock worth $3,239,000 after purchasing an additional 1,443 shares in the last quarter. Chatham Capital Group Inc. increased its holdings in shares of CorVel by 13.3% during the first quarter. Chatham Capital Group Inc. now owns 19,780 shares of the business services provider’s stock worth $5,201,000 after purchasing an additional 2,320 shares during the period. Finally, West Coast Financial LLC raised its position 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 valued at $7,776,000 after buying an additional 373 shares in the last quarter. Institutional investors 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.