Short Interest in CorVel Co. (NASDAQ:CRVL) Expands By 5.2%

CorVel Co. (NASDAQ:CRVL) was the target of a significant growth in short interest during the month of 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 trading volume of 35,000 shares, the short-interest ratio is currently 10.7 days. Currently, 4.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

CorVel Stock Performance

NASDAQ CRVL traded down $0.67 on Thursday, reaching $303.77. The company’s stock had a trading volume of 4,471 shares, compared to its average volume of 36,074. CorVel has a twelve month low of $188.50 and a twelve month high of $329.23. The stock has a market cap of $5.20 billion, a PE ratio of 66.88 and a beta of 1.08. The firm’s 50 day moving average is $312.93 and its two-hundred day moving average is $281.99.

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

Insider Transactions at CorVel

In other news, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $311.60, for a total transaction of $779,000.00. Following the completion of the transaction, the director now owns 40,777 shares in the company, valued at approximately $12,706,113.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Alan Hoops sold 1,700 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $300.00, for a total value of $510,000.00. Following the completion of the sale, the director now owns 9,396 shares of the company’s stock, valued at $2,818,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $311.60, for a total transaction of $779,000.00. Following the completion of the sale, the director now directly owns 40,777 shares of the company’s stock, valued at $12,706,113.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,679 shares of company stock worth $5,638,690. Insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Institutional investors and hedge funds have recently bought and sold shares of the business. SkyView Investment Advisors LLC boosted its holdings in shares of CorVel by 0.8% in the second quarter. SkyView Investment Advisors LLC now owns 4,284 shares of the business services provider’s stock worth $1,089,000 after buying an additional 34 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in CorVel by 2.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,143 shares of the business services provider’s stock valued at $545,000 after acquiring an additional 46 shares in the last quarter. Arizona State Retirement System raised its position in CorVel by 1.8% during the second quarter. Arizona State Retirement System now owns 2,632 shares of the business services provider’s stock valued at $669,000 after acquiring an additional 46 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in CorVel by 5.4% during the third quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock valued at $293,000 after purchasing an additional 46 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in CorVel by 98.0% during the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 48 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

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.