Corvel corp vice president sells shares worth $250,447

Jennifer Yoss, Vice President of Accounting at CorVel Corp (NASDAQ:CRVL), recently reported a series of stock transactions involving the company’s shares. On February 6, Yoss sold a total of 1,995 shares of CorVel common stock at an average price of $125.54 per share, amounting to $250,447. The transaction occurred near CorVel’s 52-week high of $128.61, with the company currently valued at $6.1 billion. According to InvestingPro analysis, the stock appears to be trading above its Fair Value, with a P/E ratio of 68.6x.

Additionally, Yoss acquired shares through the exercise of stock options. She exercised options for 1,995 shares at a price of $65.72 each, resulting in a total transaction value of $131,111. Following these transactions, Yoss directly owns 2,064 shares of CorVel. The company has demonstrated strong financial performance, with a return on equity of 33% and revenue growth of 12.6% over the last twelve months. InvestingPro subscribers can access 8 additional key insights about CorVel’s valuation and growth prospects.

The stock options exercised are part of a non-qualified stock option plan, with vesting based on specific performance criteria related to earnings growth. The company maintains a healthy financial position with minimal debt, as reflected in its debt-to-equity ratio of just 0.1 and an impressive Altman Z-Score of 20.36.

In other recent news, CorVel Corporation has executed a three-for-one forward stock split, a strategic move aimed at making the company’s stock more accessible to a broader base of investors. The company has also increased the authorized shares of its common stock to facilitate this split. These changes have been implemented following the filing of an amendment to the company’s certificate of incorporation with the Delaware Secretary of State.

For every share of CorVel’s common stock held, shareholders now own three shares. The distribution of the additional shares has been scheduled, with post-split trading on the NASDAQ expected to commence subsequently.

Michael G. Combs, President, CEO, and Chairman of CorVel, stated that this decision was based on the company’s significant stock price growth over the past years, which he attributed to robust financial performance and strategic initiatives.

However, it is important to note that these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The company has outlined these risks in its annual and quarterly reports filed with the Securities and Exchange Commission.

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