CorVel Co. (NASDAQ:CRVL) Director Sells $510,000.00 in Stock

CorVel Co. (NASDAQ:CRVL) Director Alan Hoops sold 1,700 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $300.00, for a total value of $510,000.00. Following the transaction, the director now owns 9,396 shares in the company, valued at approximately $2,818,800. The sale was disclosed in a document filed with the SEC, which is available through this link.

CorVel Price Performance

NASDAQ CRVL traded down $10.82 during mid-day trading on Monday, hitting $290.39. The stock had a trading volume of 34,127 shares, compared to its average volume of 37,868. The firm’s 50 day moving average is $263.01 and its 200 day moving average is $252.06. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $321.46. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 66.00 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 EPS for the quarter. CorVel had a return on equity of 33.26% and a net margin of 9.55%. The firm had revenue of $211.72 million during the quarter.

Institutional Trading of CorVel

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of CorVel by 98.0% during the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after purchasing an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in CorVel by 474.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after buying an additional 147 shares during the period. Spire Wealth Management increased its position in CorVel by 815.0% during the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock worth $96,000 after buying an additional 326 shares during the period. AXS Investments LLC acquired a new position in shares of CorVel in the fourth quarter valued at approximately $189,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of CorVel in the fourth quarter valued at approximately $264,000. 51.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.