CorVel Co. (NASDAQ:CRVL) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 257,900 shares, an increase of 9.2% from the December 15th total of 236,100 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average trading volume of 62,900 shares, the short-interest ratio is currently 4.1 days.
In other CorVel news, insider Maxim Shishin sold 4,383 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $75.34, for a total transaction of $330,215.22. Following the sale, the insider now directly owns 2,100 shares of the company’s stock, valued at approximately $158,214. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman V Gordon Clemons sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $77.02, for a total transaction of $77,020.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,383 shares of company stock worth $2,056,115. 50.70% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Boston Trust Walden Corp lifted its holdings in shares of CorVel by 18.5% during the 4th quarter. Boston Trust Walden Corp now owns 222,379 shares of the business services provider’s stock worth $19,427,000 after acquiring an additional 34,711 shares during the period. Man Group plc lifted its holdings in shares of CorVel by 7.5% during the 3rd quarter. Man Group plc now owns 63,356 shares of the business services provider’s stock worth $4,796,000 after acquiring an additional 4,406 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of CorVel during the 3rd quarter worth about $523,000. Barclays PLC lifted its holdings in shares of CorVel by 21.4% during the 3rd quarter. Barclays PLC now owns 15,304 shares of the business services provider’s stock worth $1,157,000 after acquiring an additional 2,699 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of CorVel by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 14,051 shares of the business services provider’s stock worth $1,064,000 after acquiring an additional 167 shares during the period. 47.85% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on the stock. BidaskClub raised shares of CorVel from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 27th. ValuEngine raised shares of CorVel from a “strong sell” rating to a “sell” rating in a research note on Monday, November 11th.
CorVel stock opened at $93.14 on Wednesday. CorVel has a 12-month low of $60.64 and a 12-month high of $94.17. The stock has a market capitalization of $1.70 billion, a P/E ratio of 36.05 and a beta of 0.69. The firm’s 50-day moving average is $85.50 and its two-hundred day moving average is $83.43. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.65 and a quick ratio of 1.65.
CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, November 5th. The business services provider reported $0.69 earnings per share (EPS) for the quarter. CorVel had a net margin of 8.15% and a return on equity of 24.46%. The company had revenue of $146.97 million for the quarter.
CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.
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