Short Interest in CorVel Co. (NASDAQ:CRVL) Decreases By 10.7%

CorVel Co. (NASDAQ:CRVL - Get Free Report) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 973,200 shares, a decline of 10.7% from the January 15th total of 1,090,000 shares. Based on an average daily trading volume, of 126,800 shares, the short-interest ratio is presently 7.7 days.

CorVel Price Performance

NASDAQ:CRVL traded down $5.73 during trading hours on Friday, hitting $108.54. 109,302 shares of the company were exchanged, compared to its average volume of 103,421. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 63.85 and a beta of 1.16. CorVel has a 52-week low of $76.20 and a 52-week high of $128.61. The company's 50 day moving average price is $123.57 and its 200-day moving average price is $113.48.

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

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 Tuesday.

Insider Transactions at CorVel

In other CorVel news, CFO Brandon O'brien sold 1,523 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,773 shares of company stock valued at $2,729,140 in the last 90 days. Insiders own 47.57% of the company's stock.

Institutional Trading of CorVel

Several large investors have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new stake in shares of CorVel in the 4th quarter valued at $848,000. Kolinsky Wealth Management LLC boosted its holdings in shares of CorVel by 200.0% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,205 shares of the business services provider's stock valued at $579,000 after acquiring an additional 3,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CorVel by 234.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider's stock valued at $10,415,000 after acquiring an additional 65,620 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in shares of CorVel by 210.8% in the 4th quarter. Voloridge Investment Management LLC now owns 34,775 shares of the business services provider's stock valued at $3,869,000 after purchasing an additional 23,585 shares during the period. Finally, Wolverine Trading LLC lifted its stake in shares of CorVel by 266.6% in the 4th quarter. Wolverine Trading LLC now owns 4,550 shares of the business services provider's stock valued at $511,000 after purchasing an additional 3,309 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

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.