CorVel (CRVL) Downgraded to Hold at BidaskClub

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

CorVel (CRVL) traded down $0.30 during trading on Tuesday, reaching $51.80. 16,672 shares of the company were exchanged, compared to its average volume of 32,122. CorVel has a 1 year low of $36.00 and a 1 year high of $61.20. The firm has a market cap of $969.93, a PE ratio of 30.83 and a beta of 0.73.

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

In related news, insider Maxim Shishin sold 1,000 shares of CorVel stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $57.26, for a total value of $57,260.00. Following the sale, the insider now owns 1,000 shares of the company’s stock, valued at approximately $57,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 50.96% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in CorVel in the 3rd quarter valued at $102,000. BNP Paribas Arbitrage SA lifted its holdings in CorVel by 57.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,061 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 1,121 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in CorVel by 58.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 1,350 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in CorVel in the 3rd quarter valued at $206,000. Finally, Susquehanna International Group LLP purchased a new position in CorVel in the 2nd quarter valued at $201,000. 43.66% of the stock is currently 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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