CorVel Corp. $CRVL Stake Reduced by Callan Family Office LLC

Key Points

• Callan Family Office LLC reduced its stake in CorVel Corp. by 46.1% to a total of 4,283 shares, valued at approximately $480,000, in the most recent quarter.
• Other hedge funds, including LPL Financial and Franklin Resources, significantly increased their positions in CorVel during the fourth quarter, with increases of 183.3% and 319.2%, respectively.
• CorVel's stock saw a slight increase of 0.8% to $90.57, while it has a market capitalization of $4.65 billion and a price-to-earnings ratio of 46.69.

Callan Family Office LLC trimmed its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 46.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,283 shares of the business services provider's stock after selling 3,670 shares during the period. Callan Family Office LLC's holdings in CorVel were worth $480,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Xponance Inc. lifted its stake in CorVel by 4.9% in the first quarter. Xponance Inc. now owns 2,008 shares of the business services provider's stock worth $225,000 after purchasing an additional 94 shares during the last quarter. Ballentine Partners LLC lifted its position in CorVel by 4.2% in the first quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider's stock valued at $283,000 after acquiring an additional 102 shares during the last quarter. Mayfair Advisory Group LLC boosted its holdings in shares of CorVel by 7.2% in the first quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock valued at $248,000 after acquiring an additional 148 shares during the period. LGT Financial Advisors LLC raised its holdings in CorVel by 200.0% during the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock worth $28,000 after purchasing an additional 170 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in CorVel in the first quarter valued at $25,000. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other CorVel news, EVP Mark E. Bertels sold 900 shares of CorVel stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.34, for a total value of $102,006.00. Following the completion of the sale, the executive vice president directly owned 2,586 shares of the company's stock, valued at approximately $293,097.24. The trade was a 25.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Judd Jessup sold 687 shares of CorVel stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $111.25, for a total transaction of $76,428.75. Following the completion of the sale, the director directly owned 128,832 shares of the company's stock, valued at $14,332,560. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,079 shares of company stock worth $1,446,023 in the last quarter. Corporate insiders own 44.56% of the company's stock.

CorVel Price Performance

CorVel stock traded up $0.70 during mid-day trading on Monday, reaching $88.92. The company had a trading volume of 41,234 shares, compared to its average volume of 133,315. CorVel Corp. has a 1 year low of $85.13 and a 1 year high of $128.61. The company has a market capitalization of $4.56 billion, a P/E ratio of 45.84 and a beta of 0.95. The stock's 50-day simple moving average is $96.75 and its 200-day simple moving average is $106.70.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

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.