CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael Sells 16,523 Shares

CorVel Co. (NASDAQ:CRVL) Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the completion of the sale, the director now owns 551,787 shares of the company’s stock, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CorVel Stock Performance

CRVL stock opened at $114.90 on Friday. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock has a fifty day moving average of $111.78 and a 200-day moving average of $114.98. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 67.59 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a report on Tuesday.

Institutional Investors Weigh In On CorVel

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of 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 valued at $635,779,000 after buying an additional 3,768,440 shares during the period. Vanguard Group Inc. grew its stake in CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider’s stock valued at $365,116,000 after acquiring an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC increased its holdings in CorVel by 184.1% during the 4th 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 during the period. Dimensional Fund Advisors LP lifted its stake in CorVel by 187.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider’s stock worth $171,969,000 after purchasing an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in CorVel by 204.6% in the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider’s stock valued at $94,074,000 after purchasing an additional 567,984 shares during the period. 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.