It is trading at $60.00 which is marginally higher than the 50 day moving average of $56.42 and which is well above the 200 day moving average of $49.90. The 50 day moving average was up by +6.35% whereas the 200 day average was up by +20.25%. 52K shares changed hands in the last trading session. Shares saw a steep increase in trading volume of 39.21% over the normal average daily volume.
Short traders are feeling a little more bearish on the company recently if you take note of the motion in short interest. The company saw a rise in short interest of 15.12% as of the latest report on October 13, 2017. Short interest grew 12,877 over that timeframe. The short-interest ratio decreased to 2.0 and the short interest percentage is 0.01% as of October 13.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Strs Ohio had sold a total of 700 shares trimming its position 4.8%. The value of the total investment in CorVel Corp. increased from $697,000 to $761,000 increasing 9.2% quarter over quarter. Victory Capital Management Inc grew its holdings by buying 116 shares an increase of 2.7% as of 09/30/2017. Victory Capital Management Inc currently owns 4,364 shares worth $237,000. The total value of its holdings increased 17.3%.
Nationwide Fund Advisors divested its ownership by shedding 10,166 shares a decrease of 68.2% from 06/30/2017 to 09/30/2017. Nationwide Fund Advisors now holds 4,747 shares with a value of $258,000. The value of the position overall is down by 63.6%. Aperio Group, LLC downsized its stake by shedding 910 shares a decrease of 14.4%. Aperio Group, LLC controls 5,425 shares valued at $295,000. The value of the position overall is down by 2.0%.
The P/E ratio is 37.78 and the market cap is 1.13B.
CorVel Corporation (Corvel), launched on May 16, 1991, is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers. CareMC is an application platform for all of the Business’s primary service lines and delivers immediate access to customers. CareMC offers customers direct access to the Business’s primary services. CareMC allows for electronic communication and reporting between providers, payers, employers and patients. The Company offers services in two general categories, network solutions and patient management..