33,468 CorVel Corp. $CRVL Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its CorVel stake by 82.2% in the third quarter, selling 33,468 shares and retaining 7,232 shares valued at approximately $539,000.
• Institutional ownership remains significant at 51.36%, with BlackRock initiating a roughly $321.3 million position and Algert Global increasing its holdings by 67.0%.
• CorVel shares opened at $79.69, near their 52-week high of $83.37. The company reported quarterly revenue of $259.93 million and earnings of $0.63 per share, while analysts maintained a “Hold” consensus.

Curated Wealth Partners LLC reduced its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 82.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,232 shares of the business services provider's stock after selling 33,468 shares during the period. Curated Wealth Partners LLC's holdings in CorVel were worth $539,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of CorVel in the 2nd quarter worth approximately $321,316,000. Algert Global LLC raised its position in shares of CorVel by 67.0% during the 2nd quarter. Algert Global LLC now owns 383,419 shares of the business services provider's stock valued at $23,971,000 after purchasing an additional 153,877 shares during the period. Assenagon Asset Management S.A. raised its position in shares of CorVel by 14.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 197,858 shares of the business services provider's stock valued at $10,813,000 after purchasing an additional 25,366 shares during the period. Bank of New York Mellon Corp grew its position in shares of CorVel by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 184,425 shares of the business services provider's stock worth $10,079,000 after purchasing an additional 847 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of CorVel by 8.4% during the first quarter. Principal Financial Group Inc. now owns 179,600 shares of the business services provider's stock worth $9,815,000 after purchasing an additional 13,938 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Stock Performance

NASDAQ:CRVL opened at $79.69 on Friday. The firm has a market capitalization of $4.06 billion, a PE ratio of 35.68 and a beta of 1.05. The stock's fifty day moving average is $71.44 and its 200 day moving average is $63.54. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $83.37.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%. The company had revenue of $259.93 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised CorVel from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the company has an average rating of "Hold".

Insider Buying and Selling

In other CorVel news, VP Jennifer Yoss sold 2,100 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $70.92, for a total transaction of $148,932.00. Following the transaction, the vice president directly owned 2,173 shares in the company, valued at $154,109.16. This trade represents a 49.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R. Jessup sold 4,023 shares of CorVel stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total value of $281,891.61. Following the sale, the director directly owned 111,798 shares of the company's stock, valued at approximately $7,833,685.86. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 8,947 shares of company stock worth $630,420. Corporate insiders own 39.72% of the company's stock.

About CorVel

CorVel Corporation is a provider of technology-enabled risk management and healthcare administration services. The company helps employers, insurance carriers, third-party administrators and government entities manage workers' compensation, auto and liability claims, with an emphasis on controlling costs, coordinating care and improving claim outcomes.

Its services include claims administration, medical bill review, utilization review, case management, pharmacy benefit management, provider-network services and managed-care solutions.

Want to see what other hedge funds are holding CRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CorVel Corp. (NASDAQ:CRVL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.