CorVel (NASDAQ:CRVL) Stock: Insider Steven Hamerslag Sells 11,000 Shares

CorVel Corp. (NASDAQ:CRVL) Director Steven Hamerslag sold 11,000 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $84.04, for a total transaction of $924,440.00. Following the sale, the director owned 276,000 shares in the company, valued at approximately $23,195,040. This trade represents a 3.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

CorVel Stock Down 0.4%

NASDAQ:CRVL traded down $0.31 during midday trading on Friday, hitting $86.19. The company had a trading volume of 46,686 shares, compared to its average volume of 213,252. The company has a market capitalization of $4.34 billion, a PE ratio of 36.26 and a beta of 1.07. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $89.76. The stock’s fifty day moving average price is $77.29 and its 200-day moving average price is $63.26.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $0.67 EPS for the quarter. CorVel had a net margin of 12.02% and a return on equity of 30.20%. The firm had revenue of $267.13 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE purchased a new position in shares of CorVel during the 2nd quarter worth $8,073,000. Bank of New York Mellon Corp purchased a new stake in CorVel during the second quarter valued at $11,439,000. Canada Pension Plan Investment Board bought a new stake in CorVel during the second quarter worth approximately $1,082,000. Walleye Capital LLC bought a new stake in CorVel in the second quarter worth $3,308,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in CorVel in the 2nd quarter worth about $931,000. 51.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

CorVel Company Profile

CorVel Corporation provides workers’ compensation and healthcare cost-management services to employers, insurers, and public entities. Its offerings are designed to help clients manage claims, coordinate care, and control healthcare-related costs. The company’s services include claims administration, medical bill review, provider network access, utilization review, case management, and pharmacy benefit management. CorVel also supports disability and liability claims management. Founded in 1987, CorVel serves customers across the United States through a combination of technology platforms and service teams.