CorVel Co. (NASDAQ:CRVL) Short Interest Update

CorVel Co. (NASDAQ:CRVL) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 378,900 shares, a growth of 13.9% from the June 30th total of 332,800 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 39,600 shares, the days-to-cover ratio is presently 9.6 days.

Insider Buying and Selling

In other news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $276.95, for a total value of $276,950.00. Following the completion of the transaction, the chief financial officer now directly owns 7,305 shares of the company’s stock, valued at $2,023,119.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman V Gordon Clemons sold 2,000 shares of CorVel stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the completion of the sale, the chairman now directly owns 266,584 shares of the company’s stock, valued at approximately $73,843,768. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the transaction, the chief financial officer now directly owns 7,305 shares in the company, valued at approximately $2,023,119.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,738 shares of company stock worth $15,532,417. 47.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in CorVel by 98.0% in the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in CorVel by 474.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 147 shares in the last quarter. Spire Wealth Management lifted its position in shares of CorVel by 815.0% in the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 326 shares in the last quarter. AXS Investments LLC purchased a new stake in CorVel during the 4th quarter valued at about $189,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of CorVel during the 4th quarter valued at about $264,000. Institutional investors own 51.36% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th.

CorVel Stock Performance

CRVL traded down $9.63 during trading on Wednesday, reaching $310.36. 22,521 shares of the company traded hands, compared to its average volume of 37,432. The company has a market cap of $5.33 billion, a P/E ratio of 72.73 and a beta of 1.08. The firm has a fifty day simple moving average of $261.36 and a 200 day simple moving average of $250.49. CorVel has a 12-month low of $187.92 and a 12-month high of $321.46.

CorVel (NASDAQ:CRVL) last released its earnings results on Wednesday, May 22nd. The business services provider reported $1.12 earnings per share (EPS) for the quarter. The firm had revenue of $207.23 million during the quarter. CorVel had a net margin of 9.59% and a return on equity of 33.49%.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.