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 transaction of $1,187,178.00. Following the completion of the transaction, the director now owns 118,213 shares in the company, valued at approximately $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

CorVel Stock Down 4.4 %

Shares of CRVL traded down $5.20 on Thursday, hitting $114.27. 138,843 shares of the stock traded hands, compared to its average volume of 103,239. The firm has a market capitalization of $5.87 billion, a P/E ratio of 67.22 and a beta of 1.16. The stock’s 50 day moving average is $123.65 and its two-hundred day moving average is $113.48. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61.

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

Hedge Funds Weigh In On CorVel

Several institutional investors and hedge funds have recently bought and sold shares of CRVL. Kayne Anderson Rudnick Investment Management LLC increased its position in CorVel by 193.7% during the fourth 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 purchasing an additional 3,768,440 shares during the last quarter. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of CorVel by 184.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider’s stock worth $206,813,000 after acquiring an additional 1,204,611 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of CorVel by 187.3% in 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 acquiring an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock worth $94,074,000 after acquiring an additional 567,984 shares in the last quarter. Institutional investors and hedge funds 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 report on Tuesday.

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.