CorVel Co. (NASDAQ:CRVL) Sees Significant Decrease in Short Interest

CorVel Co. (NASDAQ:CRVLGet Free Report) saw a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 321,100 shares, a decline of 13.1% from the May 15th total of 369,300 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily volume of 35,900 shares, the short-interest ratio is presently 8.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Thursday.

Read Our Latest Research Report on CorVel

Insiders Place Their Bets

In related news, EVP Mark E. Bertels sold 200 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $231.14, for a total value of $46,228.00. Following the transaction, the executive vice president now directly owns 858 shares in the company, valued at $198,318.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark E. Bertels sold 200 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $231.14, for a total value of $46,228.00. Following the sale, the executive vice president now directly owns 858 shares in the company, valued at approximately $198,318.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman V Gordon Clemons sold 2,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $277.00, for a total transaction of $554,000.00. Following the transaction, the chairman now directly owns 266,584 shares of the company’s stock, valued at approximately $73,843,768. The disclosure for this sale can be found here. Insiders have sold 6,200 shares of company stock valued at $1,574,528 over the last ninety days. Company insiders own 48.71% of the company’s stock.

Institutional Trading of CorVel

A number of hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its stake in CorVel by 474.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after acquiring an additional 147 shares in the last quarter. Spire Wealth Management boosted its stake in CorVel by 815.0% during the 1st quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 326 shares during the period. AXS Investments LLC acquired a new position in shares of CorVel during the fourth quarter valued at about $189,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of CorVel in the 4th quarter worth approximately $264,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of CorVel by 20.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock valued at $274,000 after buying an additional 177 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Trading Up 0.9 %

CRVL traded up $2.09 during midday trading on Friday, hitting $245.25. The company’s stock had a trading volume of 38,571 shares, compared to its average volume of 36,638. The firm has a market cap of $4.20 billion, a P/E ratio of 55.74 and a beta of 1.11. CorVel has a 52-week low of $187.92 and a 52-week high of $281.41. The firm has a 50-day moving average price of $247.91 and a two-hundred day moving average price of $243.01.

CorVel (NASDAQ:CRVLGet Free Report) last issued its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $1.12 earnings per share for the quarter. The firm had revenue of $207.23 million during the quarter. CorVel had a return on equity of 33.49% and a net margin of 9.59%.

About CorVel

(Get Free Report)

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.

Further Reading

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