Insider Selling: CorVel Co. (NASDAQ:CRVL) Director Sells 10,000 Shares of Stock

CorVel Co. (NASDAQ:CRVL) Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

CorVel Trading Up 0.5 %

Shares of CorVel stock opened at $118.02 on Wednesday. The stock has a market capitalization of $6.02 billion, a P/E ratio of 69.42 and a beta of 1.16. The business’s fifty day moving average price is $123.68 and its 200 day moving average price is $112.80. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL) last issued its earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Monday.

Institutional Investors Weigh In On CorVel

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its stake in shares of CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after buying an additional 74 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of CorVel by 45.9% during the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of CorVel during the fourth quarter valued at approximately $37,000. US Bancorp DE lifted its position in shares of CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after purchasing an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of CorVel by 175.2% in the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

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.