Insider Selling: CorVel Co. (NASDAQ:CRVL) Director Sells $779,000.00 in Stock

CorVel Co. (NASDAQ:CRVL) Director R Judd Jessup sold 2,500 shares of CorVel stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total transaction of $779,000.00. Following the completion of the sale, the director now directly owns 40,777 shares in the company, valued at approximately $12,706,113.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

R Judd Jessup also recently made the following trade(s):

• On Thursday, August 8th, R Judd Jessup sold 2,131 shares of CorVel stock. The shares were sold at an average price of $295.21, for a total transaction of $629,092.51.

CorVel Trading Up 1.7 %

NASDAQ:CRVL opened at $320.00 on Friday. The firm has a market cap of $5.49 billion, a P/E ratio of 72.73 and a beta of 1.08. The stock has a 50 day moving average of $287.14 and a two-hundred day moving average of $261.41. CorVel Co. has a 12 month low of $187.92 and a 12 month high of $321.46.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 EPS for the quarter. The firm had revenue of $211.72 million during the quarter. CorVel had a return on equity of 33.26% and a net margin of 9.55%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Friday, August 23rd.

Institutional Investors Weigh In On CorVel

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its position 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 during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of CorVel by 474.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after purchasing an additional 147 shares during the last quarter. Spire Wealth Management grew its position in shares of CorVel by 815.0% in the first quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 326 shares in the last quarter. AXS Investments LLC acquired a new stake in shares of CorVel in the fourth quarter valued at approximately $189,000. Finally, Aristides Capital LLC purchased a new position in CorVel during the second quarter worth approximately $210,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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.