CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael Sells 10,477 Shares

CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael sold 10,477 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the transaction, the director now owns 568,310 shares in the company, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CorVel Trading Up 1.2 %

Shares of CRVL stock opened at $106.17 on Wednesday. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61. The firm’s 50 day moving average is $112.55 and its 200-day moving average is $114.20. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 62.45 and a beta of 1.06.

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

Hedge Funds Weigh In On CorVel

A number of large investors have recently modified their holdings of CRVL. LGT Financial Advisors LLC lifted its position in shares of CorVel by 200.0% during the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after purchasing an additional 170 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp lifted its holdings in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after buying an additional 101 shares during the period. Jones Financial Companies Lllp acquired a new position in CorVel in the fourth quarter valued at approximately $37,000. Finally, US Bancorp DE lifted its holdings in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after buying an additional 266 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th.

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.