Short Interest in CorVel Co. (NASDAQ:CRVL) Decreases By 6.0%

CorVel Co. (NASDAQ:CRVL) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,100,000 shares, a drop of 6.0% from the December 15th total of 1,170,000 shares. Based on an average daily volume of 119,100 shares, the short-interest ratio is currently 9.2 days.

CorVel Stock Performance

Shares of CRVL stock opened at $108.85 on Friday. The firm’s 50 day moving average price is $124.83 and its two-hundred day moving average price is $109.83. CorVel has a 52-week low of $74.63 and a 52-week high of $127.24. The stock has a market cap of $5.59 billion, a PE ratio of 69.33 and a beta of 1.15.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd.

Insiders Place Their Bets

In other CorVel news, EVP Mark E. Bertels sold 1,050 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the sale, the executive vice president now owns 2,580 shares of the company’s stock, valued at $307,321. The trade was a 28.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 47.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in CorVel by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock valued at $489,631,000 after acquiring an additional 21,673 shares during the period. State Street Corp lifted its holdings in shares of CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after purchasing an additional 2,959 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CorVel by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after purchasing an additional 9,571 shares during the period. West Coast Financial LLC increased its stake in CorVel by 201.4% during the 4th quarter. West Coast Financial LLC now owns 90,534 shares of the business services provider’s stock worth $10,073,000 after purchasing an additional 60,492 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in CorVel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock worth $28,190,000 after buying an additional 6,061 shares during the period. 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.