Inspire Investing LLC Sells 105 Shares of CorVel Co. (NASDAQ:CRVL)

Inspire Investing LLC lessened its stake in shares of CorVel Co. (NASDAQ:CRVL) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,271 shares of the business services provider’s stock after selling 105 shares during the quarter. Inspire Investing LLC’s holdings in CorVel were worth $415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CRVL. Janus Henderson Group PLC boosted its position 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 valued at $12,351,000 after purchasing an additional 42,696 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CorVel during the fourth quarter valued at about $887,000. SG Americas Securities LLC bought a new stake in shares of CorVel in the 1st quarter valued at about $896,000. Sei Investments Co. grew its position in shares of CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after buying an additional 8,338 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of CorVel by 41.8% during the 2nd 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 currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CorVel news, Director R Judd Jessup sold 2,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total value of $779,000.00. Following the completion of the transaction, the director now owns 40,777 shares of the company’s stock, valued at approximately $12,706,113.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $311.60, for a total value of $779,000.00. Following the transaction, the director now directly owns 40,777 shares of the company’s stock, valued at $12,706,113.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael G. Combs sold 2,473 shares of CorVel stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $300.99, for a total value of $744,348.27. Following the sale, the chief executive officer now directly owns 16,823 shares of the company’s stock, valued at approximately $5,063,554.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,893 shares of company stock valued at $6,003,958. Insiders own 47.57% of the company’s stock.

CorVel Price Performance

Shares of CRVL stock opened at $317.51 on Wednesday. The stock’s fifty day moving average price is $312.66 and its 200 day moving average price is $277.18. CorVel Co. has a 1-year low of $187.92 and a 1-year high of $329.23. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 72.16 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results 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 return on equity of 32.25% and a net margin of 9.55%.

Analysts Set New Price Targets

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

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.