CorVel Co. (NASDAQ:CRVL) Director Steven J. Hamerslag Sells 10,000 Shares

CorVel Co. (NASDAQ:CRVL) Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CorVel Trading Down 1.1 %

NASDAQ:CRVL opened at $116.78 on Thursday. The company has a 50-day moving average price of $123.67 and a 200-day moving average price of $112.91. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 68.69 and a beta of 1.16. CorVel Co. has a 12 month low of $76.20 and a 12 month high of $128.61.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Institutional Investors Weigh In On CorVel

Several hedge funds have recently made changes to their positions in the company. Cynosure Group LLC raised its holdings in CorVel by 131.2% in the fourth quarter. Cynosure Group LLC now owns 2,643 shares of the business services provider’s stock worth $294,000 after purchasing an additional 1,500 shares in the last quarter. Kesler Norman & Wride LLC increased its stake in shares of CorVel by 295.4% in the 4th quarter. Kesler Norman & Wride LLC now owns 6,904 shares of the business services provider’s stock worth $769,000 after acquiring an additional 5,158 shares in the last quarter. Geode Capital Management LLC lifted its position in CorVel by 205.1% during the 4th quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider’s stock valued at $86,204,000 after acquiring an additional 520,783 shares during the period. Franklin Resources Inc. boosted its stake in CorVel by 319.2% during the fourth quarter. Franklin Resources Inc. now owns 8,037 shares of the business services provider’s stock worth $894,000 after acquiring an additional 6,120 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in CorVel by 192.2% in the fourth quarter. Alliancebernstein L.P. now owns 33,702 shares of the business services provider’s stock worth $3,750,000 after purchasing an additional 22,168 shares during the period. 51.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a report on Monday.

About CorVel

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.