Amalgamated Bank Lowers Holdings in CorVel Co. (NASDAQ:CRVL)

Amalgamated Bank lessened its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 3.4% in the third quarter, HoldingsChannel.com reports. The fund owned 2,663 shares of the business services provider’s stock after selling 93 shares during the period. Amalgamated Bank’s holdings in CorVel were worth $871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC increased its position in shares of CorVel by 98.0% during the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 48 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after buying an additional 74 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of CorVel during the third quarter valued at about $102,000. Benjamin F. Edwards & Company Inc. raised its position in CorVel by 130.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 411 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 233 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of CorVel during the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director R Judd Jessup sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total transaction of $779,000.00. Following the completion of the sale, the director now owns 40,777 shares of the company’s stock, valued at $12,706,113.20. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 in the company, valued at $2,047,999.96. This trade represents a 13.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 47.57% of the company’s stock.

CorVel Stock Performance

CRVL stock opened at $346.67 on Friday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 73.60 and a beta of 1.10. The firm has a 50 day moving average price of $317.23 and a 200-day moving average price of $288.95. CorVel Co. has a 52-week low of $203.90 and a 52-week high of $367.84.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of CorVel from a “buy” rating to a “hold” rating in a report 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.