Insider Selling: CorVel (NASDAQ:CRVL) Director Sells $548,820.00 in Stock

CorVel Corp. (NASDAQ:CRVL) Director Jeffrey Michael sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following the transaction, the director owned 559,721 shares of the company’s stock, valued at $34,131,786.58. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CorVel Stock Performance

NASDAQ:CRVL opened at $60.34 on Friday. The company has a fifty day moving average of $57.99 and a two-hundred day moving average of $60.27. The stock has a market capitalization of $3.06 billion, a PE ratio of 28.20 and a beta of 0.99. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $106.16.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, May 19th. The business services provider reported $0.61 earnings per share for the quarter. The company had revenue of $248.55 million during the quarter. CorVel had a net margin of 11.51% and a return on equity of 29.92%.

Institutional Investors Weigh In On CorVel

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in CorVel by 15.6% during the third quarter. Principal Financial Group Inc. now owns 162,111 shares of the business services provider’s stock worth $12,551,000 after purchasing an additional 21,827 shares during the last quarter. Argent Capital Management LLC acquired a new stake in CorVel during the fourth quarter worth about $1,800,000. Vanguard Group Inc. increased its position in CorVel by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock worth $254,541,000 after purchasing an additional 45,071 shares during the last quarter. Algert Global LLC increased its position in CorVel by 73.4% during the third quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock worth $16,843,000 after purchasing an additional 92,077 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in CorVel by 31.6% during the third quarter. Public Sector Pension Investment Board now owns 122,098 shares of the business services provider’s stock worth $9,453,000 after purchasing an additional 29,320 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings cut shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

About CorVel

CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.

The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).