Short Interest in CorVel Co. (NASDAQ:CRVL) Increases By 5.2%

CorVel Co. (NASDAQ:CRVL) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 375,300 shares, an increase of 5.2% from the September 30th total of 356,900 shares. Currently, 4.0% of the company’s shares are short sold. Based on an average daily volume of 35,000 shares, the short-interest ratio is presently 10.7 days.

CorVel Trading Up 1.5 %

NASDAQ:CRVL opened at $302.14 on Friday. CorVel has a 12 month low of $194.85 and a 12 month high of $329.23. The stock has a market capitalization of $5.18 billion, a PE ratio of 66.99 and a beta of 1.08. The firm’s 50 day moving average is $312.48 and its 200 day moving average is $282.54.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The business had revenue of $211.72 million during the quarter. CorVel had a net margin of 9.55% and a return on equity of 32.25%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

Insider Buying and Selling

In other CorVel news, Director R Judd Jessup sold 2,131 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $295.21, for a total transaction of $629,092.51. Following the completion of the sale, the director now directly owns 43,277 shares in the company, valued at approximately $12,775,803.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director R Judd Jessup sold 2,131 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $295.21, for a total value of $629,092.51. Following the completion of the sale, the director now directly owns 43,277 shares in the company, valued at $12,775,803.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Maxim Shishin sold 8,075 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $299.85, for a total value of $2,421,288.75. Following the completion of the sale, the insider now owns 1,600 shares of the company’s stock, valued at approximately $479,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,479 shares of company stock valued at $4,978,650 in the last three months. Insiders own 47.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in CorVel by 997.8% in the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after acquiring an additional 42,696 shares in the last quarter. SG Americas Securities LLC purchased a new stake in CorVel in the first quarter worth approximately $896,000. Sei Investments Co. boosted its holdings in CorVel by 65.8% in the first quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after purchasing an additional 8,338 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of CorVel by 41.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after acquiring an additional 34,155 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of CorVel by 184,200.0% during the 2nd quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock worth $469,000 after acquiring an additional 1,842 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

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.