CorVel Co. (NASDAQ:CRVL) Short Interest Down 6.0% in December

CorVel Co. (NASDAQ:CRVL) saw a large decrease in short interest during 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 trading volume, of 119,100 shares, the days-to-cover ratio is presently 9.2 days.

CorVel Trading Up 0.1 %

Shares of NASDAQ:CRVL traded up $0.10 on Friday, hitting $108.85. The company had a trading volume of 115,524 shares, compared to its average volume of 124,134. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 69.33 and a beta of 1.15. The stock has a 50 day moving average price of $124.83 and a 200 day moving average price of $109.83. CorVel has a 1-year low of $74.63 and a 1-year high of $127.24.

Analysts Set New Price Targets

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

Insider Activity

In related news, EVP Mark E. Bertels sold 1,050 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the completion of the sale, the executive vice president now directly owns 2,580 shares in the company, valued at approximately $307,321. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 47.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. FMR LLC grew its position in shares of CorVel by 193.1% in the third quarter. FMR LLC now owns 4,306 shares of the business services provider’s stock valued at $1,408,000 after purchasing an additional 2,837 shares during the last quarter. State Street Corp increased its position in CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock worth $117,703,000 after buying an additional 2,959 shares during the period. Quest Partners LLC lifted its holdings in shares of CorVel by 95.1% during the third quarter. Quest Partners LLC now owns 3,596 shares of the business services provider’s stock worth $1,175,000 after buying an additional 1,753 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in shares of CorVel by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 67 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of CorVel in the third quarter valued at about $213,000. 51.36% of the stock is owned by institutional investors.

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.