CorVel Co. (NASDAQ:CRVL) Short Interest Down 13.1% in May

CorVel Co. (NASDAQ:CRVL) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 321,100 shares, a decline of 13.1% from the May 15th total of 369,300 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily volume of 35,900 shares, the days-to-cover ratio is currently 8.9 days.

CorVel Trading Up 0.9 %

Shares of CorVel stock traded up $2.09 during trading on Friday, hitting $245.25. 38,571 shares of the stock traded hands, compared to its average volume of 36,638. The stock’s fifty day simple moving average is $247.91 and its 200 day simple moving average is $243.01. The firm has a market cap of $4.20 billion, a P/E ratio of 55.74 and a beta of 1.11. CorVel has a 52-week low of $187.92 and a 52-week high of $281.41.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $1.12 EPS for the quarter. The business had revenue of $207.23 million during the quarter. CorVel had a net margin of 9.59% and a return on equity of 33.49%.

Insider Buying and Selling at CorVel

In other news, Chairman V Gordon Clemons sold 2,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the sale, the chairman now directly owns 266,584 shares in the company, valued at approximately $73,843,768. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now directly owns 7,305 shares of the company’s stock, valued at approximately $2,023,119.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman V Gordon Clemons sold 2,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $277.00, for a total transaction of $554,000.00. Following the completion of the transaction, the chairman now directly owns 266,584 shares in the company, valued at approximately $73,843,768. The disclosure for this sale can be found here. Insiders have sold 6,200 shares of company stock valued at $1,574,528 over the last 90 days. 48.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CorVel

Institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its stake in CorVel by 474.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 147 shares during the period. Spire Wealth Management grew its position in CorVel by 815.0% during the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after buying an additional 326 shares during the period. AXS Investments LLC acquired a new position in CorVel in the 4th quarter worth about $189,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of CorVel during the 4th quarter worth approximately $264,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of CorVel by 20.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 177 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Thursday.

CorVel Company Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.