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

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

Insiders Place Their Bets

In other news, insider Maxim Shishin sold 8,075 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 directly owns 1,600 shares in the company, valued at approximately $479,760. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Maxim Shishin sold 8,075 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $299.85, for a total value of $2,421,288.75. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director R Judd Jessup sold 2,131 shares of the stock in a transaction on 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 transaction, the director now directly owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,479 shares of company stock worth $4,978,650 in the last three months. 47.57% of the stock is owned by insiders.

Institutional Trading of CorVel

A number of hedge funds have recently modified their holdings of CRVL. SkyView Investment Advisors LLC lifted its position in shares of CorVel by 0.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 4,284 shares of the business services provider’s stock worth $1,089,000 after buying an additional 34 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of CorVel by 2.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,143 shares of the business services provider’s stock valued at $545,000 after purchasing an additional 46 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of CorVel by 1.8% in the second quarter. Arizona State Retirement System now owns 2,632 shares of the business services provider’s stock valued at $669,000 after purchasing an additional 46 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in CorVel by 5.4% during the third quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider’s stock worth $293,000 after acquiring an additional 46 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in CorVel by 98.0% during the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

CorVel Price Performance

CRVL opened at $302.14 on Friday. The company has a market capitalization of $5.18 billion, a PE ratio of 66.99 and a beta of 1.08. The business has a 50-day moving average of $312.48 and a 200-day moving average of $282.54. CorVel has a fifty-two week low of $194.85 and a fifty-two week high of $329.23.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

About CorVel

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.