CorVel Co. (NASDAQ:CRVL) Director Sells $1,234,800.00 in Stock

CorVel Co. (NASDAQ:CRVL - Get Free Report) Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CorVel Trading Down 1.5 %

Shares of CRVL stock traded down $1.80 during mid-day trading on Friday, reaching $117.33. The stock had a trading volume of 47,163 shares, compared to its average volume of 102,485. CorVel Co. has a 1-year low of $76.20 and a 1-year high of $128.61. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 69.02 and a beta of 1.16. The business's fifty day moving average is $123.64 and its 200-day moving average is $112.98.

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

Hedge Funds Weigh In On CorVel

A number of institutional investors have recently modified their holdings of the stock. Creative Planning increased its stake in shares of CorVel by 7.0% in the 2nd quarter. Creative Planning now owns 1,707 shares of the business services provider's stock valued at $434,000 after purchasing an additional 111 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of CorVel during the 2nd quarter worth approximately $650,000. Handelsbanken Fonder AB raised its position in shares of CorVel by 12.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,800 shares of the business services provider's stock worth $588,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of CorVel by 61.9% during the third quarter. GAMMA Investing LLC now owns 157 shares of the business services provider's stock valued at $51,000 after acquiring an additional 60 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of CorVel during the third quarter worth approximately $208,000. Hedge funds and other institutional investors own 51.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a report on Monday.

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.