CorVel Co. (NASDAQ:CRVL) Director Sells $1,234,800.00 in Stock

CorVel Co. (NASDAQ:CRVL) Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the transaction, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. This represents a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CorVel Price Performance

Shares of CRVL opened at $116.78 on Thursday. The firm has a market cap of $5.96 billion, a P/E ratio of 68.69 and a beta of 1.16. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61. The stock has a 50 day simple moving average of $123.67 and a two-hundred day simple moving average of $112.91.

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a report on Monday.

Institutional Investors Weigh In On CorVel

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its position in CorVel by 435.3% during the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after acquiring an additional 74 shares during the last quarter. Fifth Third Bancorp boosted 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 bought a new position in shares of CorVel in the fourth quarter worth approximately $37,000. US Bancorp DE increased its stake in shares of CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares during the period. Finally, GAMMA Investing LLC raised its holdings in CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after buying an additional 275 shares during the last quarter. Institutional investors 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.