CorVel Co. (NASDAQ:CRVL) Short Interest Update

CorVel Co. (NASDAQ:CRVL) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,100,000 shares, a decrease 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.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd.

Insider Buying and Selling

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

Institutional Investors Weigh In On CorVel

A number of institutional investors have recently added to or reduced their stakes in the stock. West Coast Financial LLC grew its stake in CorVel by 201.4% during the fourth quarter. West Coast Financial LLC now owns 90,534 shares of the business services provider’s stock valued at $10,073,000 after acquiring an additional 60,492 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of CorVel by 1.1% during the 2nd 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 purchasing an additional 21,673 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of CorVel by 106.6% during the third quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider’s stock valued at $12,459,000 after purchasing an additional 19,667 shares in the last quarter. Barclays PLC increased its holdings in shares of CorVel by 380.8% in the third quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock worth $5,223,000 after purchasing an additional 12,654 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of CorVel by 3.9% in the third quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock worth $83,000,000 after buying an additional 9,571 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Trading Up 0.1 %

NASDAQ:CRVL opened at $108.85 on Monday. The stock has a 50-day moving average price of $124.83 and a 200 day moving average price of $110.00. The stock has a market capitalization of $5.59 billion, a P/E ratio of 69.33 and a beta of 1.15. CorVel has a 12-month low of $74.63 and a 12-month high of $127.24.

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.