Strs Ohio Raises Stock Holdings in CorVel Corp. $CRVL

Strs Ohio grew its position in shares of CorVel Corp. (NASDAQ:CRVL) by 7.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,900 shares of the business services provider’s stock after acquiring an additional 700 shares during the quarter. Strs Ohio’s holdings in CorVel were worth $1,018,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its stake in CorVel by 720.9% during the second quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock valued at $10,533,000 after purchasing an additional 89,994 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of CorVel by 23,616.8% during the 1st quarter. Jones Financial Companies Lllp now owns 78,977 shares of the business services provider’s stock valued at $8,843,000 after buying an additional 78,644 shares in the last quarter. Nuveen LLC purchased a new stake in shares of CorVel during the 1st quarter valued at about $8,533,000. Callan Family Office LLC lifted its holdings in shares of CorVel by 1,101.3% in the 2nd quarter. Callan Family Office LLC now owns 51,452 shares of the business services provider’s stock valued at $5,288,000 after acquiring an additional 47,169 shares during the last quarter. Finally, Jane Street Group LLC grew its position in CorVel by 194.7% in the first quarter. Jane Street Group LLC now owns 46,920 shares of the business services provider’s stock worth $5,254,000 after acquiring an additional 31,000 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CorVel

In other CorVel news, insider Maxim Shishin sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the transaction, the insider directly owned 7,050 shares in the company, valued at $628,578. This represents a 62.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brandon O’brien sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $91.54, for a total transaction of $161,476.56. Following the transaction, the chief financial officer directly owned 8,948 shares in the company, valued at approximately $819,099.92. This trade represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 44.56% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel currently has an average rating of “Hold”.

CorVel Stock Performance

CRVL opened at $75.36 on Friday. The stock’s 50 day moving average price is $78.27 and its 200-day moving average price is $93.49. CorVel Corp. has a one year low of $70.47 and a one year high of $128.61. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 38.85 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $239.64 million during the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

CorVel Company Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.