Jeffrey J. Michael Sells 10,477 Shares of CorVel Co. (NASDAQ:CRVL) Stock

CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael sold 10,477 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the sale, the director now owns 568,310 shares in the company, valued at approximately $66,179,699.50. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CorVel Stock Down 2.1 %

Shares of NASDAQ:CRVL opened at $103.89 on Thursday. The company has a market cap of $5.34 billion, a P/E ratio of 61.11 and a beta of 1.06. The company’s fifty day moving average is $112.40 and its two-hundred day moving average is $114.13. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61.

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

Institutional Trading of CorVel

Institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in CorVel by 193.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider’s stock valued at $635,779,000 after buying an additional 3,768,440 shares during the period. Vanguard Group Inc. grew its holdings in shares of CorVel by 202.1% during the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock valued at $365,116,000 after acquiring an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of CorVel by 184.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock worth $206,813,000 after acquiring an additional 1,204,611 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of CorVel by 187.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock worth $171,969,000 after acquiring an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in CorVel by 204.6% during the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after purchasing an additional 567,984 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th.

CorVel Company Profile

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.