Sanctuary Advisors LLC Invests $650,000 in CorVel Co. (NASDAQ:CRVL)

Sanctuary Advisors LLC bought a new stake in shares of CorVel Co. (NASDAQ:CRVL) during the second quarter, Holdings Channel reports. The institutional investor bought 2,724 shares of the business services provider’s stock, valued at approximately $650,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRVL. Janus Henderson Group PLC grew its stake in CorVel by 997.8% in the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after acquiring an additional 42,696 shares during the period. Quadrature Capital Ltd acquired a new position in CorVel during the fourth quarter worth $887,000. SG Americas Securities LLC bought a new position in shares of CorVel in the first quarter valued at $896,000. Sei Investments Co. grew its holdings in shares of CorVel by 65.8% during the first quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after buying an additional 8,338 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of 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 in the last quarter. 51.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 6,502 shares of the company’s stock, valued at $2,047,999.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the transaction, the chief financial officer now owns 6,502 shares in the company, valued at approximately $2,047,999.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Yoss sold 1,214 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $300.88, for a total transaction of $365,268.32. Following the sale, the vice president now owns 680 shares of the company’s stock, valued at $204,598.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,893 shares of company stock valued at $6,003,958 in the last 90 days. 47.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

CorVel Trading Up 1.9 %

Shares of CorVel stock opened at $320.35 on Tuesday. The company has a market capitalization of $5.50 billion, a P/E ratio of 72.81 and a beta of 1.08. The stock has a fifty day simple moving average of $312.22 and a 200 day simple moving average of $276.80. CorVel Co. has a 12-month low of $187.92 and a 12-month high of $329.23.

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

About CorVel

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.