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

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 the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $91.54, for a total transaction of $161,476.56. Following the completion of the sale, the chief financial officer directly owned 8,948 shares in the company, valued at $819,099.92. This trade represents a 16.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CorVel Price Performance

NASDAQ:CRVL traded down $0.81 during trading hours on Wednesday, reaching $86.76. 81,747 shares of the company were exchanged, compared to its average volume of 135,999. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 44.84 and a beta of 0.96. CorVel Corp. has a 52-week low of $84.68 and a 52-week high of $128.61. The stock has a 50 day simple moving average of $91.55 and a 200 day simple moving average of $103.33.

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%.

Hedge Funds Weigh In On CorVel

Several large investors have recently bought and sold shares of the stock. Xponance Inc. grew its stake in CorVel by 4.9% in the 1st quarter. Xponance Inc. now owns 2,008 shares of the business services provider's stock valued at $225,000 after purchasing an additional 94 shares during the period. Ballentine Partners LLC grew its stake in shares of CorVel by 4.2% during the 1st quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider's stock worth $283,000 after acquiring an additional 102 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CorVel by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider's stock worth $1,640,000 after acquiring an additional 115 shares during the period. The Manufacturers Life Insurance Company boosted its stake in CorVel by 0.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider's stock worth $1,636,000 after purchasing an additional 139 shares during the period. Finally, Mayfair Advisory Group LLC boosted its stake in CorVel by 7.2% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock worth $248,000 after purchasing an additional 148 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

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