CorVel Co. (NASDAQ:CRVL) Short Interest Update

CorVel Co. (NASDAQ:CRVL - Get Free Report) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 1,100,000 shares, a decline of 6.0% from the December 31st total of 1,170,000 shares. Based on an average daily trading volume, of 119,100 shares, the days-to-cover ratio is presently 9.2 days.

Insider Activity

In other news, EVP Mark E. Bertels sold 1,050 shares of the firm's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now owns 2,580 shares of the company's stock, valued at approximately $307,321. This trade represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 47.57% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Boston Trust Walden Corp grew its position in shares of CorVel by 196.8% in the fourth quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider's stock valued at $76,775,000 after purchasing an additional 457,538 shares in the last quarter. State Street Corp increased its position in shares of CorVel by 0.8% during the third quarter. State Street Corp now owns 360,068 shares of the business services provider's stock valued at $117,703,000 after buying an additional 2,959 shares during the period. Geode Capital Management LLC lifted its holdings in shares of CorVel by 3.9% in the third quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider's stock worth $83,000,000 after buying an additional 9,571 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of CorVel by 184.2% in the fourth quarter. Bank of New York Mellon Corp now owns 183,447 shares of the business services provider's stock worth $20,410,000 after buying an additional 118,888 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of CorVel by 210.2% in the fourth quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider's stock valued at $15,558,000 after acquiring an additional 94,751 shares during the period. Institutional investors own 51.36% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CorVel from a "buy" rating to a "hold" rating in a research note on Friday, January 3rd.

CorVel Stock Up 3.1 %

CRVL stock traded up $3.83 during midday trading on Wednesday, reaching $128.46. 208,174 shares of the company's stock traded hands, compared to its average volume of 106,301. The firm's fifty day moving average price is $123.67 and its 200-day moving average price is $112.16. CorVel has a 52 week low of $76.20 and a 52 week high of $128.61. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 81.82 and a beta of 1.16.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a return on equity of 31.73% and a net margin of 9.64%.

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.