CorVel Co. (NASDAQ:CRVL) Short Interest Up 24.4% in February

CorVel Co. (NASDAQ:CRVL – Get Rating) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 286,700 shares, a growth of 24.4% from the February 13th total of 230,500 shares. Based on an average daily volume of 78,700 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.2% of the shares of the stock are short sold.

Insider Activity

In other CorVel news, Chairman V Gordon Clemons sold 1,066 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $150.06, for a total transaction of $159,963.96. Following the sale, the chairman now directly owns 430,534 shares of the company’s stock, valued at approximately $64,605,932.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other CorVel news, CEO Michael G. Combs sold 1,850 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $184.27, for a total value of $340,899.50. Following the sale, the chief executive officer now directly owns 15,877 shares in the company, valued at $2,925,654.79. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman V Gordon Clemons sold 1,066 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $150.06, for a total value of $159,963.96. Following the sale, the chairman now owns 430,534 shares in the company, valued at approximately $64,605,932.04. The disclosure for this sale can be found here. Insiders sold 58,110 shares of company stock worth $10,659,709 in the last 90 days. 48.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Hedge funds have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in CorVel in the 4th quarter valued at approximately $26,000. Quadrant Capital Group LLC raised its holdings in CorVel by 170.8% in the 4th quarter. Quadrant Capital Group LLC now owns 195 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 123 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of CorVel during the 2nd quarter worth $34,000. Paragon Wealth Strategies LLC bought a new stake in CorVel during the 3rd quarter worth $39,000. Finally, Point72 Hong Kong Ltd grew its position in shares of CorVel by 327.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 325 shares of the business services provider’s stock valued at $48,000 after buying an additional 249 shares during the last quarter. Institutional investors own 50.75% of the company’s stock.

CorVel Stock Down 1.0 %

Shares of CorVel stock opened at $175.72 on Monday. The stock has a market capitalization of $3.02 billion, a P/E ratio of 46.00 and a beta of 1.06. The stock has a 50 day moving average price of $171.15 and a two-hundred day moving average price of $157.27. CorVel has a 12-month low of $129.19 and a 12-month high of $192.13.

CorVel (NASDAQ:CRVL – Get Rating) last issued its earnings results on Tuesday, January 31st. The business services provider reported $0.96 EPS for the quarter. CorVel had a return on equity of 33.47% and a net margin of 9.63%. The business had revenue of $179.39 million during the quarter.

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