Insider Selling: CorVel (NASDAQ:CRVL) Director Sells 3,247 Shares of Stock

CorVel Corp. (NASDAQ:CRVL) Director R Judd Jessup sold 3,247 shares of CorVel stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $76.20, for a total value of $247,421.40. Following the sale, the director directly owned 111,798 shares in the company, valued at approximately $8,519,007.60. The trade was a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

R Judd Jessup also recently made the following trade(s):

• On Tuesday, November 11th, R Judd Jessup sold 7,076 shares of CorVel stock. The shares were sold at an average price of $76.94, for a total value of $544,427.44.
• On Monday, November 10th, R Judd Jessup sold 210 shares of CorVel stock. The shares were sold at an average price of $76.27, for a total transaction of $16,016.70.

CorVel Price Performance

Shares of CRVL traded up $0.03 during trading hours on Monday, reaching $73.88. 221,406 shares of the company’s stock traded hands, compared to its average volume of 146,591. The business’s fifty day simple moving average is $75.20 and its two-hundred day simple moving average is $90.15. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 38.08 and a beta of 0.98. CorVel Corp. has a twelve month low of $70.47 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 earnings per share for the quarter. The business had revenue of $239.64 million during the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Institutional Trading of CorVel

Hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new position in shares of CorVel in the 3rd quarter valued at $240,000. CANADA LIFE ASSURANCE Co lifted its position in shares of CorVel by 13.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 26,453 shares of the business services provider’s stock valued at $2,041,000 after buying an additional 3,148 shares during the last quarter. Voleon Capital Management LP boosted its holdings in shares of CorVel by 832.1% in the 3rd quarter. Voleon Capital Management LP now owns 22,584 shares of the business services provider’s stock valued at $1,748,000 after buying an additional 20,161 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of CorVel by 100.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 112,181 shares of the business services provider’s stock worth $8,685,000 after acquiring an additional 56,220 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in CorVel by 83.2% during the third quarter. Verition Fund Management LLC now owns 35,568 shares of the business services provider’s stock valued at $2,754,000 after acquiring an additional 16,148 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRVL. Wall Street Zen lowered CorVel from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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.