Jeffrey J. Michael Sells 10,477 Shares of CorVel Co. (NASDAQ:CRVL) Stock

CorVel Co. (NASDAQ:CRVL - Get Free Report) Director Jeffrey J. Michael sold 10,477 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the transaction, the director now owns 568,310 shares in the company, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CorVel Stock Down 0.4 %

Shares of CRVL traded down $0.41 during trading hours on Thursday, reaching $103.48. 74,181 shares of the company traded hands, compared to its average volume of 102,041. The business has a fifty day moving average price of $112.29 and a 200-day moving average price of $114.06. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61. The stock has a market capitalization of $5.31 billion, a P/E ratio of 60.87 and a beta of 1.06.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

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Institutional Trading of CorVel

A number of hedge funds and other institutional investors have recently made changes to their positions in CRVL. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in CorVel by 193.7% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock valued at $635,779,000 after purchasing an additional 3,768,440 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock worth $365,116,000 after buying an additional 2,195,466 shares during the last quarter. Renaissance Technologies LLC grew its holdings in CorVel by 184.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock worth $206,813,000 after acquiring an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP boosted its position in CorVel by 187.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock worth $171,969,000 after purchasing an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in CorVel by 204.6% during the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock worth $94,074,000 after buying an additional 567,984 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research report on Thursday.

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.