The Manufacturers Life Insurance Company Boosts Position in CorVel Co. (NASDAQ:CRVL)

The Manufacturers Life Insurance Company boosted its position in shares of CorVel Co. (NASDAQ:CRVL) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,139 shares of the business services provider’s stock after purchasing an additional 204 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CorVel were worth $1,307,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CRVL. GAMMA Investing LLC lifted its position in shares of CorVel by 98.0% in the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of CorVel by 474.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 147 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in CorVel in the second quarter valued at $233,000. O Shaughnessy Asset Management LLC increased its stake in CorVel by 20.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 177 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in CorVel in the second quarter valued at $318,000. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Trading Up 2.4 %

CorVel stock opened at $314.43 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 71.46 and a beta of 1.08. The stock has a fifty day moving average price of $311.35 and a 200 day moving average price of $275.73. CorVel Co. has a 52 week low of $187.92 and a 52 week high of $329.23.

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

Insiders Place Their Bets

In other CorVel news, Director Alan Hoops sold 1,700 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 9,396 shares in the company, valued at $2,818,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Corstar Holdings Inc sold 18,460 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $269.14, for a total value of $4,968,324.40. Following the completion of the sale, the insider now owns 6,291,498 shares in the company, valued at approximately $1,693,293,771.72. This trade 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, Director Alan Hoops sold 1,700 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $300.00, for a total value of $510,000.00. Following the completion of the sale, the director now owns 9,396 shares of the company’s stock, valued at approximately $2,818,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,353 shares of company stock worth $10,972,282 over the last three months. 47.57% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.