Insider Selling: CorVel Co. (NASDAQ:CRVL) EVP Sells 350 Shares of Stock

CorVel Co. (NASDAQ:CRVL) EVP Mark E. Bertels sold 350 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $357.35, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now directly owns 860 shares of the company’s stock, valued at approximately $307,321. The trade was a 28.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CorVel Trading Up 2.1 %

CorVel stock opened at $357.82 on Wednesday. The stock has a 50 day moving average of $333.20 and a 200-day moving average of $301.73. The stock has a market cap of $6.13 billion, a P/E ratio of 75.97 and a beta of 1.14. CorVel Co. has a 52 week low of $221.82 and a 52 week high of $381.73.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in shares of CorVel by 41.8% during the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after purchasing an additional 34,155 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in CorVel by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after buying an additional 21,673 shares during the last quarter. Barclays PLC grew its position in shares of CorVel by 380.8% in the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock worth $5,223,000 after acquiring an additional 12,654 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of CorVel by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock valued at $83,000,000 after acquiring an additional 9,571 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of CorVel during the 3rd quarter valued at approximately $2,797,000. 51.36% of the stock is 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.