CorVel (CRVL) Downgraded by BidaskClub

BidaskClub lowered shares of CorVel (NASDAQ:CRVL) from a strong-buy rating to a buy rating in a research report report published on Friday.

CRVL stock opened at $62.00 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 27.40 and a beta of 0.66. CorVel has a one year low of $46.45 and a one year high of $70.73.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, October 30th. The business services provider reported $0.67 EPS for the quarter. The firm had revenue of $148.18 million during the quarter. CorVel had a net margin of 7.39% and a return on equity of 24.51%.

In other news, major shareholder Corstar Holdings Inc sold 5,727 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $61.35, for a total transaction of $351,351.45. Following the completion of the sale, the insider now directly owns 7,063,967 shares of the company’s stock, valued at approximately $433,374,375.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman V Gordon Clemons sold 1,000 shares of the business’s stock in a transaction on Thursday, January 10th. The shares were sold at an average price of $62.07, for a total transaction of $62,070.00. The disclosure for this sale can be found here. Insiders sold a total of 180,611 shares of company stock valued at $11,725,116 over the last ninety days. 51.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CRVL. SG Americas Securities LLC increased its stake in shares of CorVel by 66.0% during the second quarter. SG Americas Securities LLC now owns 3,446 shares of the business services provider’s stock valued at $186,000 after buying an additional 1,370 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of CorVel by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 48,095 shares of the business services provider’s stock worth $2,598,000 after buying an additional 2,872 shares during the period. BlackRock Inc. grew its position in shares of CorVel by 7.4% during the 2nd quarter. BlackRock Inc. now owns 1,438,498 shares of the business services provider’s stock worth $77,679,000 after buying an additional 98,761 shares during the period. Legal & General Group Plc grew its position in shares of CorVel by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 21,784 shares of the business services provider’s stock worth $1,173,000 after buying an additional 979 shares during the period. Finally, Raymond James & Associates grew its position in shares of CorVel by 17.4% during the 2nd quarter. Raymond James & Associates now owns 13,495 shares of the business services provider’s stock worth $729,000 after buying an additional 2,002 shares during the period. 45.64% of the stock is owned by institutional investors.

CorVel Company Profile

CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.

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