Insider Selling: CorVel Co. (NASDAQ:CRVL) CFO Sells 3,957 Shares of Stock

CorVel Co. (NASDAQ:CRVL) CFO Brandon O’brien sold 3,957 shares of CorVel stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the transaction, the chief financial officer now owns 11,804 shares in the company, valued at $1,280,261.84. This trade represents a 25.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

CorVel Stock Down 0.7%

CRVL opened at $105.07 on Friday. CorVel Co. has a 52-week low of $79.81 and a 52-week high of $128.61. The company has a market cap of $5.40 billion, a P/E ratio of 61.81 and a beta of 1.02. The firm’s 50-day moving average price is $111.79 and its 200-day moving average price is $115.75.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.51 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%. The firm had revenue of $231.51 million for the quarter.

Hedge Funds Weigh In On CorVel

Several hedge funds have recently modified their holdings of CRVL. Yousif Capital Management LLC increased its holdings in shares of CorVel by 192.8% during the fourth quarter. Yousif Capital Management LLC now owns 11,180 shares of the business services provider’s stock valued at $1,244,000 after acquiring an additional 7,362 shares in the last quarter. Choreo LLC increased its holdings in CorVel by 181.0% in the 4th quarter. Choreo LLC now owns 2,169 shares of the business services provider’s stock worth $243,000 after buying an additional 1,397 shares during the period. State of Alaska Department of Revenue increased its holdings in CorVel by 197.7% in the 4th quarter. State of Alaska Department of Revenue now owns 15,453 shares of the business services provider’s stock worth $1,719,000 after buying an additional 10,263 shares during the period. Apollon Wealth Management LLC increased its holdings in CorVel by 196.1% in the 4th quarter. Apollon Wealth Management LLC now owns 4,770 shares of the business services provider’s stock worth $531,000 after buying an additional 3,159 shares during the period. Finally, Quent Capital LLC increased its holdings in CorVel by 200.0% in the 4th quarter. Quent Capital LLC now owns 1,239 shares of the business services provider’s stock worth $138,000 after buying an additional 826 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Friday, April 18th.

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.