CorVel Co. (NASDAQ:CRVL) Short Interest Update

CorVel Co. (NASDAQ:CRVL) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 375,300 shares, a growth of 5.2% from the September 30th total of 356,900 shares. Based on an average daily trading volume, of 35,000 shares, the short-interest ratio is presently 10.7 days. Approximately 4.0% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, EVP Mark E. Bertels sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $299.80, for a total value of $89,940.00. Following the sale, the executive vice president now directly owns 858 shares of the company’s stock, valued at $257,228.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director R Judd Jessup sold 2,131 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $295.21, for a total transaction of $629,092.51. Following the transaction, the director now directly owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark E. Bertels sold 300 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $299.80, for a total transaction of $89,940.00. Following the transaction, the executive vice president now owns 858 shares in the company, valued at $257,228.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,479 shares of company stock worth $4,978,650. Corporate insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in CorVel by 997.8% in the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after acquiring an additional 42,696 shares during the period. SG Americas Securities LLC bought a new position in shares of CorVel in the first quarter worth about $896,000. Sei Investments Co. raised its stake in CorVel by 65.8% during the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after purchasing an additional 8,338 shares during the period. Assenagon Asset Management S.A. lifted its holdings in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in CorVel by 184,200.0% in the 2nd quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock worth $469,000 after purchasing an additional 1,842 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

CorVel Stock Performance

Shares of NASDAQ CRVL traded up $7.16 during trading hours on Friday, hitting $304.98. The company’s stock had a trading volume of 2,926 shares, compared to its average volume of 35,995. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 66.04 and a beta of 1.08. The business has a 50-day simple moving average of $312.73 and a 200-day simple moving average of $282.10. CorVel has a 12 month low of $194.85 and a 12 month high of $329.23.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 32.25%.

About CorVel

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.