Key Points
- CorVel Director Steven Hamerslag sold 11,000 shares for $924,440 at an average price of $84.04, reducing his stake by 3.83% to 276,000 shares.
- CorVel reported quarterly earnings of $0.67 per share on revenue of $267.13 million, with a 12.02% net margin and 30.20% return on equity.
- Analyst sentiment was mixed: one firm upgraded the stock to “strong buy,” but the average rating remains “Hold.”
CorVel Corp. (NASDAQ:CRVL - Get Free Report) Director Steven Hamerslag sold 11,000 shares of the stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $84.04, for a total value of $924,440.00. Following the completion of the sale, the director owned 276,000 shares in the company, valued at approximately $23,195,040. The trade was a 3.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
CorVel Price Performance
Shares of NASDAQ:CRVL traded down $0.81 on Friday, hitting $85.69. 117,707 shares of the company's stock were exchanged, compared to its average volume of 173,260. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of 36.00 and a beta of 1.07. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $89.76. The business's 50 day simple moving average is $77.63 and its two-hundred day simple moving average is $63.34.
CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $0.67 EPS for the quarter. The firm had revenue of $267.13 million for the quarter. CorVel had a net margin of 12.02% and a return on equity of 30.20%.
Analyst Ratings Changes
Several research firms have issued reports on CRVL. Wall Street Zen raised shares of CorVel from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Weiss Ratings raised shares of CorVel from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of "Hold".
Get Our Latest Stock Report on CorVel
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in shares of CorVel in the 3rd quarter worth $25,000. Fulcrum Asset Management LLP increased its stake in shares of CorVel by 3,314.3% during the third quarter. Fulcrum Asset Management LLP now owns 478 shares of the business services provider's stock valued at $36,000 after buying an additional 464 shares during the period. Versant Capital Management Inc increased its stake in shares of CorVel by 59.7% during the second quarter. Versant Capital Management Inc now owns 907 shares of the business services provider's stock valued at $57,000 after buying an additional 339 shares during the period. IFP Advisors Inc raised its holdings in shares of CorVel by 68.3% in the second quarter. IFP Advisors Inc now owns 973 shares of the business services provider's stock valued at $61,000 after acquiring an additional 395 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of CorVel by 846.2% in the third quarter. Sterling Capital Management LLC now owns 984 shares of the business services provider's stock valued at $73,000 after acquiring an additional 880 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.
About CorVel
(
Get Free Report)
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.
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