CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael Sells 16,523 Shares

CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael sold 16,523 shares of the firm’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the transaction, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CorVel Stock Up 0.8 %

Shares of CRVL stock opened at $115.86 on Friday. The company’s 50 day moving average is $111.60 and its 200 day moving average is $115.04. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 68.15 and a beta of 0.94. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) 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 raised shares of CorVel from a “hold” rating to a “buy” rating in a research report on Tuesday.

Hedge Funds Weigh In On CorVel

A number of large investors have recently added to or reduced their stakes in CRVL. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of CorVel by 193.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider’s stock worth $635,779,000 after buying an additional 3,768,440 shares during the last quarter. Vanguard Group Inc. grew its holdings in CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock worth $365,116,000 after purchasing an additional 2,195,466 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of CorVel by 184.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock worth $206,813,000 after purchasing an additional 1,204,611 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of CorVel by 187.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock worth $171,969,000 after purchasing an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of CorVel by 204.6% during the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after purchasing an additional 567,984 shares during the last quarter. 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.