Alan Hoops, a director at CorVel Corp (NASDAQ:CRVL), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Hoops disposed of 5,600 shares of common stock on November 7, 2024. The shares were sold at prices ranging from $345.5313 to $345.5872, bringing the total transaction value to approximately $1.94 million.
Following these transactions, Hoops maintains ownership of 7,896 shares directly and 43,071 shares indirectly through the Hoops Irrevocable Trust. The sales were executed without any equity swaps involved.
InvestingPro Insights
To provide context for Alan Hoops' recent stock sale, it's worth examining CorVel Corp's current market position and performance. According to InvestingPro data, CorVel's market capitalization stands at $6.16 billion, reflecting its substantial presence in the industry. The company has demonstrated strong financial performance, with a revenue growth of 12.66% over the last twelve months, reaching $845.64 million.
CorVel's stock has shown remarkable momentum, with InvestingPro Tips highlighting a significant 82.13% return over the past year and a 38.83% gain in the last six months. This upward trajectory aligns with the director's decision to sell shares, potentially capitalizing on the stock's strong performance.
The company's valuation metrics are noteworthy, with a P/E ratio of 75.6 and a Price to Book ratio of 21.79. These figures suggest that CorVel is trading at a premium compared to many of its peers. An InvestingPro Tip indicates that the stock is trading at a high earnings multiple, which could explain why insiders like Hoops might choose to realize gains at current price levels.
It's important to note that CorVel operates with a moderate level of debt and has been profitable over the last twelve months, as pointed out by InvestingPro Tips. These factors contribute to the company's financial stability and may have influenced the timing of the insider sale.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for CorVel Corp, providing a deeper understanding of the company's financial health and market position.
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