Insider Selling: CorVel Co. (NASDAQ:CRVL) Major Shareholder Sells 17,325 Shares of Stock

CorVel Co. (NASDAQ:CRVL) major shareholder Corstar Holdings Inc sold 17,325 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $74.28, for a total transaction of $1,286,901.00. Following the completion of the transaction, the insider now directly owns 6,767,076 shares in the company, valued at $502,658,405.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Corstar Holdings Inc also recently made the following trade(s):

  • On Thursday, May 30th, Corstar Holdings Inc sold 6,569 shares of CorVel stock. The shares were sold at an average price of $74.26, for a total transaction of $487,813.94.
  • On Monday, June 3rd, Corstar Holdings Inc sold 12,078 shares of CorVel stock. The shares were sold at an average price of $74.18, for a total transaction of $895,946.04.
  • On Thursday, May 16th, Corstar Holdings Inc sold 11,480 shares of CorVel stock. The shares were sold at an average price of $74.34, for a total transaction of $853,423.20.
  • On Thursday, May 9th, Corstar Holdings Inc sold 16,588 shares of CorVel stock. The shares were sold at an average price of $71.56, for a total transaction of $1,187,037.28.
  • On Friday, May 3rd, Corstar Holdings Inc sold 5,295 shares of CorVel stock. The stock was sold at an average price of $72.08, for a total transaction of $381,663.60.
  • On Monday, May 6th, Corstar Holdings Inc sold 20,112 shares of CorVel stock. The stock was sold at an average price of $72.06, for a total transaction of $1,449,270.72.
  • On Monday, April 29th, Corstar Holdings Inc sold 3,858 shares of CorVel stock. The stock was sold at an average price of $71.25, for a total transaction of $274,882.50.
  • On Wednesday, May 1st, Corstar Holdings Inc sold 16,840 shares of CorVel stock. The stock was sold at an average price of $71.42, for a total transaction of $1,202,712.80.
  • On Friday, April 26th, Corstar Holdings Inc sold 15,046 shares of CorVel stock. The stock was sold at an average price of $70.08, for a total transaction of $1,054,423.68.
  • On Tuesday, April 23rd, Corstar Holdings Inc sold 6,811 shares of CorVel stock. The stock was sold at an average price of $68.59, for a total transaction of $467,166.49.

CorVel stock traded down $0.77 during trading hours on Friday, reaching $81.66. 81,389 shares of the stock were exchanged, compared to its average volume of 59,980. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 33.32 and a beta of 0.64. CorVel Co. has a twelve month low of $50.29 and a twelve month high of $83.50.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Thursday, May 30th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. The firm had revenue of $151.08 million for the quarter. CorVel had a net margin of 7.84% and a return on equity of 24.61%.

A number of institutional investors have recently made changes to their positions in CRVL. Quantamental Technologies LLC acquired a new stake in shares of CorVel in the 4th quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of CorVel in the 1st quarter valued at approximately $30,000. Financial Gravity Wealth Inc. acquired a new stake in shares of CorVel in the 1st quarter valued at approximately $48,000. SEI Investments Co acquired a new stake in shares of CorVel in the 1st quarter valued at approximately $59,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of CorVel by 818.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 1,874 shares in the last quarter. Hedge funds and other institutional investors own 46.22% of the company’s stock.

Separately, BidaskClub lowered shares of CorVel from a “buy” rating to a “hold” rating in a research report on Tuesday.

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CorVel Company Profile

CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.

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