CorVel Co. (NASDAQ:CRVL) Short Interest Update

CorVel Co. (NASDAQ:CRVL) saw a significant drop in short interest in the month of 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 trading volume of 118,400 shares, the days-to-cover ratio is currently 6.4 days.

CorVel Stock Performance

NASDAQ CRVL opened at $108.19 on Tuesday. The stock has a fifty day moving average of $122.62 and a 200-day moving average of $114.09. The stock has a market capitalization of $5.56 billion, a P/E ratio of 63.64 and a beta of 1.16. CorVel has a 52 week low of $76.20 and a 52 week high of $128.61.

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

Insider Buying and Selling at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of the business’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 transaction, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares of the company’s stock, valued at $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,773 shares of company stock valued at $2,729,140. 47.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in CorVel by 18.8% during the third quarter. Creative Planning now owns 2,028 shares of the business services provider’s stock worth $663,000 after acquiring an additional 321 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in CorVel by 5.4% during the third quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock worth $293,000 after acquiring an additional 46 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in CorVel by 11.5% during the third quarter. Farther Finance Advisors LLC now owns 1,408 shares of the business services provider’s stock worth $460,000 after acquiring an additional 145 shares in the last quarter. Atria Investments Inc lifted its holdings in CorVel by 8.6% during the third quarter. Atria Investments Inc now owns 4,234 shares of the business services provider’s stock worth $1,384,000 after acquiring an additional 335 shares in the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in CorVel during the third quarter worth about $256,000. 51.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CorVel Company Profile

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.