CorVel Co. (NASDAQ:CRVL) Director Sells $1,187,178.00 in Stock

CorVel Co. (NASDAQ:CRVL) Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the sale, the director now directly owns 118,213 shares of the company’s stock, valued at approximately $13,758,811.07. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CorVel Price Performance

NASDAQ CRVL opened at $114.27 on Friday. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock’s 50-day moving average is $123.65 and its two-hundred day moving average is $113.48. The firm has a market cap of $5.87 billion, a P/E ratio of 67.22 and a beta of 1.16.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On CorVel

Several institutional investors have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. raised its holdings in CorVel by 5.4% during the third quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock valued at $293,000 after buying an additional 46 shares in the last quarter. SkyView Investment Advisors LLC increased its stake 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 worth $1,422,000 after purchasing an additional 67 shares during the period. Blue Trust Inc. increased its stake in shares of CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after purchasing an additional 74 shares during the period. Fifth Third Bancorp increased its stake in shares of CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after purchasing an additional 101 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock worth $67,000 after purchasing an additional 112 shares during the period. 51.36% of the stock is currently 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.