Connor Clark & Lunn Investment Management Ltd. Invests $522,000 in CorVel Corp. $CRVL

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CorVel Corp. during Q1, purchasing 4,662 shares worth approximately $522,000.
• Several institutional investors, including Dimensional Fund Advisors and Price T Rowe Associates, significantly increased their stakes in CorVel, with increases as high as 210.8% in the fourth quarter.
• CorVel's shares opened at $88.82, with the company reporting a quarterly EPS of $0.52 and a market cap of $4.56 billion.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in CorVel Corp. (NASDAQ:CRVL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,662 shares of the business services provider's stock, valued at approximately $522,000.

Several other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. boosted its stake in CorVel by 4.9% in the 1st quarter. Xponance Inc. now owns 2,008 shares of the business services provider's stock valued at $225,000 after purchasing an additional 94 shares during the period. Ballentine Partners LLC boosted its stake in CorVel by 4.2% in the 1st quarter. Ballentine Partners LLC now owns 2,531 shares of the business services provider's stock valued at $283,000 after purchasing an additional 102 shares during the period. Mayfair Advisory Group LLC boosted its stake in CorVel by 7.2% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,212 shares of the business services provider's stock valued at $248,000 after purchasing an additional 148 shares during the period. LGT Financial Advisors LLC boosted its stake in CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after purchasing an additional 170 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in CorVel in the 1st quarter valued at $25,000. 51.36% of the stock is currently owned by institutional investors.

CorVel Price Performance

CRVL traded up $2.58 during trading on Friday, hitting $92.64. The stock had a trading volume of 202,258 shares, compared to its average volume of 151,746. The company has a 50 day moving average price of $95.04 and a 200-day moving average price of $105.72. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 47.75 and a beta of 0.95. CorVel Corp. has a one year low of $85.13 and a one year high of $128.61.

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

Insider Transactions at CorVel

In other CorVel news, CFO Brandon O'brien sold 3,957 shares of CorVel stock in a transaction on Monday, June 9th. The stock was sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the transaction, the chief financial officer directly owned 11,804 shares of the company's stock, valued at $1,280,261.84. The trade was a 25.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Hoops sold 3,000 shares of CorVel stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $113.05, for a total value of $339,150.00. Following the completion of the transaction, the director directly owned 16,688 shares of the company's stock, valued at $1,886,578.40. This represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,079 shares of company stock worth $2,515,943. Corporate insiders own 44.56% of the company's stock.

CorVel Company 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.