CorVel Corporation (NASDAQ:CRVL) insider has lately joined an insider trading activity. Chairman of the Board, CLEMONS V GORDON sold 1,000 shares for $35,332 via through transaction Dec 15. Following the transaction, the insider now holds 1,764,130 shares in the company, priced at $62803028 as of Friday. Additional notable insider trading was performed by the same insider on Dec 13. CLEMONS V GORDON Sold 500 shares with $35.27 as the average price of common stock. That amounts to $17,634 in total. Apart from this, this insider carried out a sale of 500 shares at $34.36 per share on Dec 12. The transaction was worth $17,182. The insider also sold 1,500 shares for $52,500 via one transaction Dec 09.
The stock has seen a count of 4 insider trades in the past 3 months. These transactions include 4 sell trades and 0 buy activities. Furthermore, over the past 12 months, insider traded the stock on 37 occasions. In 37 instances, an employee was a seller while the insider of the company was the buyer in just 0 times.
CorVel Corporation (CRVL) on November 1, 2016 announced the results for the quarter and six months ended September 30, 2016. Revenues for the quarter ended September 30, 2016 were $128.2 million, up 3% from $124.5 million in the same quarter of the prior year. Earnings per share for the quarter ended September 30, 2016 were $0.35 and were $0.41 for the same quarter of the prior year.
Revenues for the six months ended September 30, 2016 were $256.7 million, up 2% from $251.4 million in the same period of the prior year. Earnings per share for the six months ended September 30, 2016 were $0.73 and were $0.75 for the same period of the prior year.
Revenue growth for the quarter was driven by a 13% increase in the Company’s claims management services. However staffing and adjusting to the new laws for time management resulted in recruiting expenses and legal fees. The Company is also experiencing extended sales cycles due to the economic uncertainty in the healthcare marketplace caused by the election and the evolving conditions under the Affordable Care Act.
CorVel Corporation is a national provider of innovative workers’ compensation, auto, liability and health solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. We apply technology, intelligence, and a human touch throughout the risk management process so our clients can intervene early and often while being connected to the critical intelligence they need to proactively manage risk. With a robust technology platform at its core, our connected solution is delivered by a national team of associates who are committed to helping clients design and administer programs that meet their organization’s performance goals.