CorVel (NASDAQ:CRVL) Stock: Insider Steven Hamerslag Sells 11,000 Shares

CorVel Corp. (NASDAQ:CRVL) Director Steven Hamerslag sold 11,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $84.04, for a total transaction of $924,440.00. Following the completion of the sale, the director owned 276,000 shares of the company’s stock, valued at approximately $23,195,040. This represents a 3.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

CorVel Stock Down 0.9%

CorVel stock traded down $0.81 during mid-day trading on Friday, hitting $85.69. 117,707 shares of the company’s stock were exchanged, compared to its average volume of 173,260. The company’s 50 day simple moving average is $77.63 and its 200-day simple moving average is $63.34. The firm has a market capitalization of $4.31 billion, a P/E ratio of 36.00 and a beta of 1.07. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $89.76.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, November 3rd. The business services provider reported $0.67 earnings per share (EPS) for the quarter. CorVel had a return on equity of 30.20% and a net margin of 12.02%. The firm had revenue of $267.13 million during the quarter.

Institutional Investors Weigh In On CorVel

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in CorVel during the second quarter valued at approximately $321,316,000. Bank of New York Mellon Corp acquired a new position in shares of CorVel during the 2nd quarter worth approximately $11,439,000. Algert Global LLC increased its position in shares of CorVel by 67.0% during the 2nd quarter. Algert Global LLC now owns 383,419 shares of the business services provider’s stock worth $23,971,000 after purchasing an additional 153,877 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of CorVel during the 2nd quarter worth approximately $8,073,000. Finally, Legal & General Group Plc bought a new stake in shares of CorVel during the 2nd quarter worth approximately $4,263,000. Institutional investors own 51.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CRVL. Weiss Ratings upgraded shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. Wall Street Zen upgraded shares of CorVel from a “buy” rating to a “strong-buy” rating in a report on Saturday. One analyst has rated the stock with a Hold rating. According to MarketBeat, CorVel has a consensus rating of “Hold”.

CorVel Company Profile

CorVel Corporation provides workers’ compensation and healthcare cost-management services to employers, insurers, and public entities. Its offerings are designed to help clients manage claims, coordinate care, and control healthcare-related costs. The company’s services include claims administration, medical bill review, provider network access, utilization review, case management, and pharmacy benefit management. CorVel also supports disability and liability claims management. Founded in 1987, CorVel serves customers across the United States through a combination of technology platforms and service teams.