Farther Finance Advisors LLC Invests $318,000 in CorVel Co. (NASDAQ:CRVL)

Farther Finance Advisors LLC purchased a new position in shares of CorVel Co. (NASDAQ:CRVL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,263 shares of the business services provider’s stock, valued at approximately $318,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CorVel by 2.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,143 shares of the business services provider’s stock worth $545,000 after purchasing an additional 46 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of CorVel by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock worth $18,719,000 after purchasing an additional 1,479 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of CorVel by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 4,600 shares of the business services provider’s stock worth $1,170,000 after purchasing an additional 100 shares during the last quarter. West Coast Financial LLC lifted its stake in shares of CorVel by 1.2% during the 2nd quarter. West Coast Financial LLC now owns 29,929 shares of the business services provider’s stock worth $7,610,000 after purchasing an additional 358 shares during the last quarter. Finally, Ellsworth Advisors LLC lifted its stake in shares of CorVel by 6.0% during the 2nd quarter. Ellsworth Advisors LLC now owns 2,279 shares of the business services provider’s stock worth $579,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

Insider Buying and Selling at CorVel

In other news, Director R Judd Jessup sold 2,131 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $295.21, for a total value of $629,092.51. Following the completion of the transaction, the director now directly owns 43,277 shares in the company, valued at $12,775,803.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director R Judd Jessup sold 2,131 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $295.21, for a total value of $629,092.51. Following the completion of the transaction, the director now directly owns 43,277 shares in the company, valued at $12,775,803.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the completion of the transaction, the chief financial officer now owns 6,502 shares of the company’s stock, valued at $2,047,999.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,631 shares of company stock worth $20,705,425. 47.57% of the stock is owned by insiders.

CorVel Stock Performance

CorVel stock opened at $311.16 on Thursday. The stock has a 50-day moving average of $292.47 and a two-hundred day moving average of $263.47. CorVel Co. has a one year low of $187.92 and a one year high of $323.34. The stock has a market cap of $5.34 billion, a PE ratio of 70.72 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 EPS for the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%. The company had revenue of $211.72 million during the quarter.

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.