Insider Selling: CorVel Co. (NASDAQ:CRVL) CFO Sells 3,957 Shares of Stock

CorVel Co. (NASDAQ:CRVL - Get Free Report) CFO Brandon O'brien sold 3,957 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the sale, the chief financial officer now owns 11,804 shares in the company, valued at $1,280,261.84. The trade was a 25.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

CorVel Stock Performance

NASDAQ CRVL traded down $0.77 during trading on Friday, hitting $105.07. The stock had a trading volume of 141,618 shares, compared to its average volume of 120,134. The company has a market capitalization of $5.40 billion, a PE ratio of 61.81 and a beta of 1.02. The company's 50-day moving average price is $111.79 and its two-hundred day moving average price is $115.71. CorVel Co. has a 12 month low of $81.36 and a 12 month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.51 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%. The company had revenue of $231.51 million for the quarter.

Institutional Investors Weigh In On CorVel

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.

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.