Short Interest in CorVel Co. (NASDAQ:CRVL) Decreases By 10.7%

CorVel Co. (NASDAQ:CRVL) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 973,200 shares, a decrease of 10.7% from the January 15th total of 1,090,000 shares. Based on an average trading volume of 126,800 shares, the short-interest ratio is currently 7.7 days.

CorVel Stock Up 1.4 %

Shares of NASDAQ:CRVL traded up $1.66 on Tuesday, reaching $118.99. 81,806 shares of the company’s stock were exchanged, compared to its average volume of 101,816. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 69.99 and a beta of 1.16. CorVel has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The business’s 50-day moving average is $123.65 and its two-hundred day moving average is $113.31.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Activity at CorVel

In related news, EVP Mark E. Bertels sold 1,050 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $119.12, for a total value of $125,072.50. Following the sale, the executive vice president now directly owns 2,580 shares of the company’s stock, valued at $307,321. This represents a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,573 shares of company stock valued at $1,541,962 over the last ninety days. Corporate insiders own 47.57% of the company’s stock.

Institutional Trading of CorVel

A number of large investors have recently modified their holdings of CRVL. Creative Planning increased its holdings in shares of CorVel by 18.8% in the 3rd quarter. Creative Planning now owns 2,028 shares of the business services provider’s stock worth $663,000 after acquiring an additional 321 shares during the period. Blue Trust Inc. increased its holdings in shares of CorVel by 435.3% in the 3rd quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after acquiring an additional 74 shares during the period. Raymond James & Associates increased its holdings in shares of CorVel by 3.6% in the 3rd quarter. Raymond James & Associates now owns 60,358 shares of the business services provider’s stock worth $19,730,000 after acquiring an additional 2,110 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CorVel in the 3rd quarter worth about $102,000. Finally, Ballentine Partners LLC acquired a new stake in shares of CorVel in the 3rd quarter worth about $255,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

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.