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

CorVel (NASDAQ:CRVL) traded down $0.60 on Friday, reaching $52.90. 20,505 shares of the company’s stock traded hands, compared to its average volume of 33,949. The firm has a market cap of $1,008.09, a PE ratio of 31.49 and a beta of 0.72. CorVel has a 52-week low of $36.00 and a 52-week high of $61.20.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, October 31st. The business services provider reported $0.44 earnings per share for the quarter. The firm had revenue of $136.43 million during 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 firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $57.26, for a total value of $57,260.00. Following the completion of the sale, the insider now owns 1,000 shares in the company, valued at approximately $57,260. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 50.96% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of CorVel in the 3rd quarter valued at about $102,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of CorVel by 3.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 2,310 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 80 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of 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 during the last quarter. Susquehanna International Group LLP bought a new position in shares of CorVel in the 2nd quarter valued at about $201,000. Finally, Victory Capital Management Inc. boosted its stake in shares of CorVel by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,248 shares of the business services provider’s stock valued at $202,000 after purchasing an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 43.66% of the company’s stock.

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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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