CorVel Co. (NASDAQ:CRVL) Director Sells $779,000.00 in Stock

CorVel Co. (NASDAQ:CRVL) Director R Judd Jessup sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $311.60, for a total value of $779,000.00. Following the completion of the sale, the director now directly owns 40,777 shares of the company’s stock, valued at approximately $12,706,113.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, August 8th, R Judd Jessup sold 2,131 shares of CorVel stock. The stock was sold at an average price of $295.21, for a total transaction of $629,092.51.

CorVel Stock Down 0.7 %

Shares of CorVel stock traded down $2.28 on Tuesday, reaching $310.30. 26,743 shares of the stock were exchanged, compared to its average volume of 36,898. The business has a 50 day moving average price of $283.12 and a two-hundred day moving average price of $260.17. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 70.78 and a beta of 1.08. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $321.46.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after buying an additional 42,696 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CorVel during the 4th quarter worth about $887,000. SG Americas Securities LLC acquired a new stake in shares of CorVel during the 1st quarter valued at about $896,000. Sei Investments Co. raised its holdings in CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after purchasing an additional 8,338 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in CorVel by 41.8% during the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Friday.

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.