Brandon O'brien Sells 1,764 Shares of CorVel (NASDAQ:CRVL) Stock

Key Points

• Brandon O'brien, CFO of CorVel Corp., sold 1,764 shares at an average price of $91.54, totaling approximately $161,476.56, reducing his stake by 16.47% to 8,948 shares.
• CorVel's stock is currently trading at $86.76, with a market cap of $4.45 billion and a price-to-earnings ratio of 44.84.
• Wall Street analysts have downgraded CorVel's rating from "buy" to "hold" as of August 30th.

CorVel Corp. (NASDAQ:CRVL - Get Free Report) CFO Brandon O'brien sold 1,764 shares of CorVel stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $91.54, for a total value of $161,476.56. Following the completion of the transaction, the chief financial officer directly owned 8,948 shares of the company's stock, valued at approximately $819,099.92. This trade represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

CorVel Price Performance

Shares of CRVL stock traded down $2.80 on Monday, reaching $82.79. 144,031 shares of the company were exchanged, compared to its average volume of 137,049. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 42.68 and a beta of 0.96. The company has a 50-day moving average of $90.60 and a 200-day moving average of $102.83. CorVel Corp. has a one year low of $82.46 and a one year high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of CorVel from a "buy" rating to a "hold" rating in a research report on Saturday, August 30th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of CorVel by 1.9% in the second quarter. State Street Corp now owns 1,093,710 shares of the business services provider's stock valued at $112,412,000 after purchasing an additional 20,537 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CorVel by 5.3% during the second quarter. Geode Capital Management LLC now owns 845,660 shares of the business services provider's stock worth $86,925,000 after purchasing an additional 42,861 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in CorVel by 187.9% during the second quarter. Thrivent Financial for Lutherans now owns 400,003 shares of the business services provider's stock worth $41,112,000 after purchasing an additional 261,049 shares during the last quarter. Norges Bank purchased a new position in CorVel during the second quarter worth about $34,418,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of CorVel by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 176,927 shares of the business services provider's stock valued at $18,185,000 after acquiring an additional 4,001 shares in the last quarter. Institutional investors own 51.36% of the company's stock.

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.