Farther Finance Advisors LLC Cuts Position in CorVel Co. (NASDAQ:CRVL)

Farther Finance Advisors LLC decreased its position in shares of CorVel Co. (NASDAQ:CRVL) by 59.9% during the fourth quarter, HoldingsChannel reports. The firm owned 564 shares of the business services provider’s stock after selling 844 shares during the period. Farther Finance Advisors LLC’s holdings in CorVel were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of CorVel by 193.1% in the 3rd quarter. FMR LLC now owns 4,306 shares of the business services provider’s stock valued at $1,408,000 after acquiring an additional 2,837 shares during the last quarter. State Street Corp increased its stake in CorVel by 0.8% in the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock worth $117,703,000 after purchasing an additional 2,959 shares during the period. SkyView Investment Advisors LLC lifted its position in CorVel by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 67 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of CorVel by 152.8% during the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider’s stock valued at $12,137,000 after purchasing an additional 65,940 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of CorVel in the third quarter worth approximately $213,000. Institutional investors own 51.36% of the company’s stock.

Insider Buying and Selling at CorVel

In related news, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the completion of the transaction, the director now directly owns 118,213 shares of the company’s stock, valued at approximately $13,758,811.07. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,200 shares of company stock worth $3,824,115. Insiders own 47.57% of the company’s stock.

CorVel Stock Performance

CorVel stock opened at $107.86 on Friday. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 63.45 and a beta of 1.06. The stock’s 50 day simple moving average is $112.06 and its two-hundred day simple moving average is $114.20.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a report on Thursday, March 13th.

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.