Insider Selling: CorVel (NASDAQ:CRVL) Director Sells 11,000 Shares of Company Stock

CorVel Corp. (NASDAQ:CRVL) Director Steven Hamerslag sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $84.04, for a total transaction of $924,440.00. Following the completion of the sale, the director owned 276,000 shares in the company, valued at $23,195,040. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

CorVel Stock Performance

Shares of NASDAQ CRVL traded down $0.31 during mid-day trading on Friday, hitting $86.19. The stock had a trading volume of 46,686 shares, compared to its average volume of 213,252. The company has a 50 day moving average of $77.29 and a two-hundred day moving average of $63.26. The firm has a market cap of $4.34 billion, a PE ratio of 36.26 and a beta of 1.07. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $89.76.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $0.67 earnings per share for the quarter. The company had revenue of $267.13 million for the quarter. CorVel had a net margin of 12.02% and a return on equity of 30.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd lifted its position in CorVel by 0.7% during the second quarter. WINTON GROUP Ltd now owns 22,772 shares of the business services provider’s stock worth $1,424,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC grew its stake in shares of CorVel by 6.5% during the third quarter. Signaturefd LLC now owns 2,783 shares of the business services provider’s stock worth $207,000 after buying an additional 171 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in CorVel by 18.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,228 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 195 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of CorVel by 9.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,556 shares of the business services provider’s stock worth $191,000 after purchasing an additional 218 shares during the last quarter. Finally, MGO One Seven LLC boosted its holdings in CorVel by 2.0% in the 3rd quarter. MGO One Seven LLC now owns 12,213 shares of the business services provider’s stock worth $910,000 after buying an additional 235 shares during the period. Institutional investors own 51.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

About CorVel

CorVel Corporation provides workers’ compensation and healthcare cost-management services to employers, insurers, and public entities. Its offerings are designed to help clients manage claims, coordinate care, and control healthcare-related costs. The company’s services include claims administration, medical bill review, provider network access, utilization review, case management, and pharmacy benefit management. CorVel also supports disability and liability claims management. Founded in 1987, CorVel serves customers across the United States through a combination of technology platforms and service teams.