CorVel (NASDAQ:CRVL) Downgraded by StockNews.com to “Hold”

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

CorVel Stock Down 1.9 %

CorVel stock opened at $109.16 on Friday. The company has a market cap of $5.61 billion, a P/E ratio of 23.18 and a beta of 1.14. The business has a 50-day simple moving average of $124.15 and a two-hundred day simple moving average of $107.69. CorVel has a 52-week low of $74.63 and a 52-week high of $127.24.

Insiders Place Their Bets

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now owns 2,580 shares in the company, valued at $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 47.57% of the stock is currently owned by corporate insiders.

Institutional Trading of CorVel

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of CorVel by 435.3% during the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after acquiring an additional 74 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CorVel by 61.9% in the third quarter. GAMMA Investing LLC now owns 157 shares of the business services provider’s stock worth $51,000 after buying an additional 60 shares during the last quarter. Advisors Asset Management Inc. grew its stake in CorVel by 121.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 112 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of CorVel in the third quarter valued at about $88,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in CorVel in the 3rd quarter worth approximately $102,000. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Company Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. 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. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.