Insider Selling: CorVel (NASDAQ:CRVL) Director Sells 7,076 Shares of Stock

CorVel Corp. (NASDAQ:CRVL) Director R Judd Jessup sold 7,076 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total value of $544,427.44. Following the transaction, the director owned 115,045 shares of the company’s stock, valued at $8,851,562.30. This represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

R Judd Jessup also recently made the following trade(s):

• On Monday, November 10th, R Judd Jessup sold 210 shares of CorVel stock. The shares were sold at an average price of $76.27, for a total transaction of $16,016.70.

CorVel Stock Down 0.4%

NASDAQ:CRVL traded down $0.32 during mid-day trading on Wednesday, reaching $77.23. 266,114 shares of the company were exchanged, compared to its average volume of 146,183. CorVel Corp. has a 12 month low of $70.47 and a 12 month high of $128.61. The company has a fifty day moving average of $77.54 and a 200 day moving average of $92.48. The stock has a market cap of $3.96 billion, a PE ratio of 39.81 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $239.64 million for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. bought a new stake in CorVel during the first quarter worth $25,000. Federated Hermes Inc. grew its position in shares of CorVel by 147.4% in the third quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 227 shares during the last quarter. Hantz Financial Services Inc. bought a new position in CorVel during the 2nd quarter worth $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CorVel during the second quarter worth $37,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of CorVel in the third quarter valued at about $47,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CRVL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. Wall Street Zen lowered shares of CorVel from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel currently has an average rating of “Hold”.

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.