Raymond James & Associates Boosts Stock Position in CorVel Co. (NASDAQ:CRVL)

Raymond James & Associates grew its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,248 shares of the business services provider’s stock after buying an additional 122 shares during the quarter. Raymond James & Associates’ holdings in CorVel were worth $14,811,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in CorVel in the fourth quarter worth $19,974,000. Janus Henderson Group PLC raised its stake in CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after acquiring an additional 42,696 shares during the period. Assenagon Asset Management S.A. raised its stake in CorVel by 41.8% during the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after acquiring an additional 34,155 shares during the period. Sei Investments Co. lifted its holdings in CorVel by 65.8% in the first quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after acquiring an additional 8,338 shares during the last quarter. Finally, Curated Wealth Partners LLC boosted its stake in CorVel by 180.6% in the second quarter. Curated Wealth Partners LLC now owns 2,130 shares of the business services provider’s stock valued at $542,000 after acquiring an additional 4,773 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Buying and Selling at CorVel

In other news, Director Alan Hoops sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $300.00, for a total transaction of $510,000.00. Following the completion of the transaction, the director now directly owns 9,396 shares in the company, valued at $2,818,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Alan Hoops sold 1,700 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $300.00, for a total transaction of $510,000.00. Following the transaction, the director now directly owns 9,396 shares of the company’s stock, valued at $2,818,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark E. Bertels sold 200 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $231.14, for a total transaction of $46,228.00. Following the completion of the sale, the executive vice president now directly owns 858 shares of the company’s stock, valued at approximately $198,318.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,131 shares of company stock worth $19,926,425. 47.57% of the stock is owned by company insiders.

CorVel Stock Performance

CRVL stock opened at $314.57 on Friday. CorVel Co. has a 1 year low of $187.92 and a 1 year high of $321.46. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 71.49 and a beta of 1.08. The stock’s fifty day moving average is $281.87 and its two-hundred day moving average is $259.28.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The business had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised CorVel from a “hold” rating to a “buy” rating in a report on Friday.

CorVel 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.