BidaskClub Lowers CorVel (CRVL) to Hold

BidaskClub cut shares of CorVel (NASDAQ:CRVL) from a buy rating to a hold rating in a research note released on Tuesday.

CorVel (NASDAQ:CRVL) opened at $51.80 on Tuesday. The stock has a market cap of $976.05, a PE ratio of 30.83 and a beta of 0.73. CorVel has a 52-week low of $36.00 and a 52-week high of $61.20.

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

In other CorVel news, insider Maxim Shishin sold 1,000 shares of the business’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 completion of the sale, the insider now directly owns 1,000 shares of the company’s stock, valued at approximately $57,260. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 50.96% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings in CorVel by 0.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,474,000 shares of the business services provider’s stock worth $69,941,000 after purchasing an additional 9,847 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in CorVel by 1.2% during the 2nd 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 last quarter. State Street Corp raised its holdings in CorVel by 5.2% during the 2nd quarter. State Street Corp now owns 253,625 shares of the business services provider’s stock worth $12,030,000 after purchasing an additional 12,529 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in CorVel by 1.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 129,894 shares of the business services provider’s stock worth $7,065,000 after purchasing an additional 1,454 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in CorVel by 0.8% during the 2nd quarter. Principal Financial Group Inc. now owns 77,822 shares of the business services provider’s stock worth $3,693,000 after purchasing an additional 607 shares during the last quarter. 43.66% of the stock is owned by hedge funds and other institutional investors.

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CorVel Company Profile

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.

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