CorVel Co. (NASDAQ:CRVL) Insider Sells $2,421,288.75 in Stock

CorVel Co. (NASDAQ:CRVL) insider Maxim Shishin sold 8,075 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $299.85, for a total transaction of $2,421,288.75. Following the completion of the sale, the insider now owns 1,600 shares in the company, valued at $479,760. The transaction was disclosed in a filing with the SEC, which is available through this link.

CorVel Stock Performance

CorVel stock opened at $316.81 on Friday. The firm’s fifty day moving average price is $272.89 and its 200-day moving average price is $256.09. The stock has a market cap of $5.44 billion, a P/E ratio of 72.00 and a beta of 1.08. CorVel Co. has a fifty-two week low of $187.92 and a fifty-two week high of $321.46.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” 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 the business. Kayne Anderson Rudnick Investment Management LLC raised its position in CorVel by 1.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after purchasing an additional 21,673 shares during the period. Assenagon Asset Management S.A. raised its position in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares during the period. Norges Bank bought a new stake in CorVel in the 4th quarter worth $19,974,000. Bank of New York Mellon Corp grew its holdings in CorVel by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock worth $18,719,000 after acquiring an additional 1,479 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CorVel by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after acquiring an additional 2,252 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

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.