CorVel Co. (NASDAQ:CRVL) Short Interest Down 21.8% in February

CorVel Co. (NASDAQ:CRVL) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 760,700 shares, a drop of 21.8% from the January 31st total of 973,200 shares. Based on an average daily volume of 118,400 shares, the short-interest ratio is currently 6.4 days.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th.

CorVel Trading Down 0.3 %

Shares of CorVel stock traded down $0.31 during trading hours on Thursday, reaching $107.44. 39,136 shares of the company’s stock were exchanged, compared to its average volume of 102,776. The company has a fifty day moving average of $113.03 and a 200-day moving average of $114.06. CorVel has a 52-week low of $76.20 and a 52-week high of $128.61. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 62.95 and a beta of 1.16.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data 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%.

Insider Activity at CorVel

In other news, CFO Brandon O’brien sold 1,523 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the sale, the chief financial officer now directly owns 17,142 shares in the company, valued at $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,723 shares of company stock valued at $2,604,068 in the last ninety days. Corporate insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Several institutional investors have recently bought and sold shares of CRVL. Mackenzie Financial Corp purchased a new stake in shares of CorVel during the fourth quarter valued at approximately $848,000. Kolinsky Wealth Management LLC grew its stake in shares of CorVel by 200.0% during the fourth quarter. Kolinsky Wealth Management LLC now owns 5,205 shares of the business services provider’s stock valued at $579,000 after acquiring an additional 3,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CorVel by 234.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider’s stock worth $10,415,000 after acquiring an additional 65,620 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in shares of CorVel by 210.8% in the fourth quarter. Voloridge Investment Management LLC now owns 34,775 shares of the business services provider’s stock worth $3,869,000 after acquiring an additional 23,585 shares in the last quarter. Finally, Wolverine Trading LLC boosted its holdings in CorVel by 266.6% in the fourth quarter. Wolverine Trading LLC now owns 4,550 shares of the business services provider’s stock valued at $511,000 after purchasing an additional 3,309 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other 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.