The Ultimate Insider Guide: Corstar Holdings Inc Sells $12.9M in Corvel Corp Shares
Corstar Holdings Inc, a major shareholder in Corvel Corp (NASDAQ:CRVL), recently completed a series of stock sales totaling over $12.9 million. These transactions, which occurred between July 12 and July 16, involved the sale of Corvel Corp common stock at prices ranging from $262.77 to $271.77 per share.
The filings indicate that on July 12, Corstar Holdings Inc sold 3,429 shares at $262.77 each, followed by multiple transactions of 5,000 shares each at progressively higher prices, culminating in sales at $270.77 and $271.77 per share on July 16. The final two transactions on July 16 included a sale of 1,540 shares and another batch of 5,000 shares at the highest reported price of $271.77.
These sales were made under a Rule 10b5-1 trading plan, allowing company insiders to schedule buying or selling stocks without accessing material non-public information. Following the transactions, Corstar Holdings Inc's ownership in Corvel Corp was adjusted, but they remain a significant shareholder with millions of shares still under their control.
Investors and market observers often track insider transactions for insights into a company's financial health and stock value from an insider's perspective. The recent sales by Corstar Holdings Inc signify a significant change in their investment in Corvel Corp and may interest those monitoring the company's stock performance.
In other news, CorVel Corporation has announced plans to enhance its managed care offerings with advanced AI technology. The new platform aims to improve program outcomes, ease IT constraints, automate tasks, and enhance analytics. This move underscores CorVel's commitment to innovation in the managed care sector.
InvestingPro Insights:
Following Corstar Holdings Inc's sale of Corvel Corp shares, investors may find the following insights valuable. Corvel Corp is trading near its 52-week high, with the previous close price at $267.7, representing almost 100% of its 52-week high. The insider sales align with the reported transaction prices, indicating a strong market valuation.
From a performance perspective, Corvel has shown significant returns over the last week, month, and three months, suggesting positive market response to its recent performance. Financial data from InvestingPro reveals a robust P/E ratio and revenue growth, with moderate debt levels.
For a deeper analysis, additional InvestingPro Tips are available to provide context on Corvel's valuation and performance. Notably, Corvel does not pay dividends, which may impact income-focused investment strategies. By using the coupon code PRONEWS24, investors can access additional insights with discounts on InvestingPro subscriptions.
In summary, Corstar Holdings Inc's recent stock sales in Corvel Corp, along with CorVel's advancements in AI technology, offer valuable insights for investors looking to understand the company's financial health, market position, and potential investment opportunities.