Insider Selling: CorVel (NASDAQ:CRVL) Director Sells 4,023 Shares of Stock

Key Points

• CorVel Director R. Judd Jessup sold 4,023 shares at an average price of $70.07, generating $281,891.61. He retained 111,798 shares, with the transaction reducing his direct ownership by 3.47%.
• Jessup also sold 1,262 shares on August 27 and 1,562 shares on August 26, indicating several insider sales in late August and early September.
• CorVel shares recently traded at $68.74, while the company reported quarterly earnings of $0.63 per share on $259.93 million in revenue. Analysts’ consensus rating remains “Hold.”

CorVel Corp. (NASDAQ:CRVL - Get Free Report) Director R Judd Jessup sold 4,023 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total transaction of $281,891.61. Following the completion of the sale, the director directly owned 111,798 shares of the company's stock, valued at approximately $7,833,685.86. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

R Judd Jessup also recently made the following trade(s):

• On Thursday, August 27th, R Judd Jessup sold 1,262 shares of CorVel stock. The shares were sold at an average price of $70.64, for a total transaction of $89,147.68.
• On Wednesday, August 26th, R Judd Jessup sold 1,562 shares of CorVel stock. The stock was sold at an average price of $70.71, for a total value of $110,449.02.

CorVel Price Performance

Shares of CRVL traded down $1.65 during midday trading on Thursday, reaching $68.74. 132,975 shares of the stock were exchanged, compared to its average volume of 217,747. The business's 50-day moving average price is $64.01 and its 200 day moving average price is $58.79. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $93.45. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 30.55 and a beta of 0.97.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share for the quarter. The business had revenue of $259.93 million during the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.

Institutional Trading of CorVel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CorVel in the 3rd quarter valued at approximately $31,000. Los Angeles Capital Management LLC acquired a new position in shares of CorVel in the fourth quarter valued at approximately $33,000. Rockefeller Capital Management L.P. raised its stake in shares of CorVel by 66.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider's stock worth $39,000 after purchasing an additional 230 shares during the last quarter. Quarry LP raised its stake in shares of CorVel by 218.6% during the third quarter. Quarry LP now owns 513 shares of the business services provider's stock worth $40,000 after purchasing an additional 352 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of CorVel by 59.7% during the second quarter. Versant Capital Management Inc now owns 907 shares of the business services provider's stock worth $57,000 after purchasing an additional 339 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of CorVel from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Weiss Ratings upgraded shares of CorVel from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

CorVel Company Profile

CorVel Corporation NASDAQ: CRVL is a technology-driven provider of workers' compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel's integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company's product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).

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