Rhumbline Advisers Sells 4,292 Shares of CorVel Co. (NASDAQ:CRVL)

Rhumbline Advisers reduced its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,432 shares of the business services provider's stock after selling 4,292 shares during the quarter. Rhumbline Advisers owned about 0.16% of CorVel worth $9,006,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRVL. GAMMA Investing LLC grew its position in CorVel by 17,654.4% during the first quarter. GAMMA Investing LLC now owns 76,699 shares of the business services provider's stock worth $8,588,000 after buying an additional 76,267 shares in the last quarter. California State Teachers Retirement System boosted its position in CorVel by 196.0% during the 4th quarter. California State Teachers Retirement System now owns 26,310 shares of the business services provider's stock worth $2,927,000 after acquiring an additional 17,421 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in CorVel by 184.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,884 shares of the business services provider's stock worth $1,545,000 after acquiring an additional 8,998 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of CorVel by 200.0% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 8,235 shares of the business services provider's stock valued at $916,000 after purchasing an additional 5,490 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in CorVel in the 4th quarter valued at $848,000. 51.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research report on Friday, April 18th.

CorVel Stock Performance

NASDAQ CRVL traded down $0.79 during trading hours on Thursday, hitting $107.27. The company had a trading volume of 17,330 shares, compared to its average volume of 119,703. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 63.10 and a beta of 1.02. CorVel Co. has a 52 week low of $79.25 and a 52 week high of $128.61. The firm has a 50 day simple moving average of $111.90 and a 200 day simple moving average of $115.99.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%. The business had revenue of $231.51 million during the quarter.

Insider Buying and Selling

In other news, Director R Judd Jessup sold 935 shares of CorVel stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.50, for a total value of $106,122.50. Following the completion of the sale, the director now directly owns 129,519 shares of the company's stock, valued at approximately $14,700,406.50. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jennifer Yoss sold 1,050 shares of CorVel stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $111.39, for a total transaction of $116,959.50. Following the sale, the vice president now owns 2,088 shares in the company, valued at $232,582.32. This represents a 33.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,602 shares of company stock valued at $3,379,049. 47.57% of the stock is owned by insiders.

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.