CorVel Co. (NASDAQ:CRVL) Sees Significant Increase in Short Interest

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

Insider Buying and Selling at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $276.95, for a total value of $276,950.00. Following the transaction, the chief financial officer now directly owns 7,305 shares of the company’s stock, valued at $2,023,119.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Corstar Holdings Inc sold 10,649 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $261.36, for a total value of $2,783,222.64. Following the transaction, the insider now directly owns 6,333,387 shares of the company’s stock, valued at approximately $1,655,294,026.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $276.95, for a total value of $276,950.00. Following the sale, the chief financial officer now directly owns 7,305 shares of the company’s stock, valued at approximately $2,023,119.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,738 shares of company stock worth $15,532,417. Insiders own 47.57% of the company’s stock.

Institutional Investors Weigh In On CorVel

Several large investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new stake in shares of CorVel during the 4th quarter valued at about $887,000. SG Americas Securities LLC bought a new stake in CorVel during the first quarter worth approximately $896,000. Raymond James Financial Services Advisors Inc. raised its position in CorVel by 77.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,876 shares of the business services provider’s stock valued at $2,689,000 after purchasing an additional 4,764 shares during the period. Sei Investments Co. lifted its stake in shares of CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after purchasing an additional 8,338 shares during the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in shares of CorVel in the 4th quarter worth approximately $459,000. 51.36% of the stock is owned by institutional investors.

CorVel Price Performance

Shares of NASDAQ CRVL traded up $0.19 during mid-day trading on Monday, reaching $307.82. The company’s stock had a trading volume of 38,713 shares, compared to its average volume of 37,394. The stock has a fifty day moving average of $259.86 and a two-hundred day moving average of $249.35. The firm has a market capitalization of $5.28 billion, a PE ratio of 69.92 and a beta of 1.08. CorVel has a 52 week low of $187.92 and a 52 week high of $314.31.

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

Wall Street Analyst Weigh In

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

CorVel Company Profile

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.