Here is the rundown on market activity for CorVel Corp. (NASDAQ:CRVL). Diane Blaha, Chief Marketing Officer sold $47,260 worth of shares at an average price of $47.26 on Wed the 7th. Blaha now owns $216,262 of stock as recorded in a recent Form 4 SEC filing. Chairman V. Gordon Clemons sold 7,000 shares at a price of $41.99 on April 13th. The Chairman now owns $72,354,229 of the stock as reported to the SEC.
V. Gordon Clemons, Chairman reported the sale of 9,000 shares of (CRVL). The shares were sold on April 10th for a price of $41.71. Clemons now owns $72,163,722 of the stock according to the SEC filing.
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..
These firms have also modified their investment in CRVL. As of the end of the quarter Morgan Stanley had acquired a total of 3,295 shares growing its holdings by 97.7%. The value of the total investment in CorVel Corp. increased from $124,000 to $290,000 a change of 133.9% since the last quarter. As of quarter end Goldman Sachs Group Inc had bought 18,181 shares growing its stake by 148.9%. The value of the investment in CRVL went from $447,000 to $1,322,000 increasing 195.7% for the reporting period.
As of quarter end State Street Corp had acquired a total of 14,370 shares growing its position 6.3%. The value of the company’s investment in CorVel Corp. went from $8,298,000 to $10,492,000 a change of $2,194,000 quarter to quarter. Price T Rowe Associates Inc /md/ cut its ownership by selling 20 shares a decrease of 0.0% from 12/31/2016 to 03/31/2017. Price T Rowe Associates Inc /md/ now holds 235,166 shares valued at $10,230,000. The total value of its holdings increased 18.8%.
In the market the company is trading up by 1.68% since yesterday’s close of $47.7. Shares last traded at $48.50 a tad above $45.75, the stock’s 50 day moving average and which is just over the 200 day moving average of $40.28. The 50 day moving average went up by +6.00% and the 200 day average went up $8.22 or +20.41%.
The P/E ratio is currently 33.92 and market capitalization is 927.66M. Investors are feeling more bearish on CorVel Corp. lately as inferred by the change in short interest. The company saw a rise in short interest from May 15, 2017 to April 28, 2017 of 19.58%. Short interest increased from 106,047 to 126,814 over that timeframe. The days to cover increased to 4.5 and the percentage of shorted shares was 0.01% on April 28.