Jones Financial Companies Lllp Has $8.84 Million Stock Holdings in CorVel Corp. $CRVL

Key Points

• Jones Financial Companies Lllp increased its stake in CorVel Corp. by a staggering 23,616.8%, owning 78,977 shares valued at approximately $8.84 million.
• Wall Street analyst ratings for CorVel were downgraded from "buy" to "hold" on August 30th.
• Insider Maxim Shishin sold 12,000 shares of CorVel stock, representing a 62.99% decrease in their position, valued at over $1 million at the time of sale.

Jones Financial Companies Lllp raised its stake in CorVel Corp. (NASDAQ:CRVL - Free Report) by 23,616.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 78,977 shares of the business services provider's stock after buying an additional 78,644 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.15% of CorVel worth $8,843,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its stake in shares of CorVel by 2.7% during the first quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider's stock valued at $16,085,000 after purchasing an additional 3,818 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of CorVel by 230.2% during the fourth quarter. Janus Henderson Group PLC now owns 136,908 shares of the business services provider's stock valued at $15,233,000 after purchasing an additional 95,445 shares in the last quarter. Algert Global LLC raised its stake in shares of CorVel by 5.6% during the first quarter. Algert Global LLC now owns 103,079 shares of the business services provider's stock valued at $11,542,000 after purchasing an additional 5,430 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CorVel by 234.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider's stock valued at $10,415,000 after purchasing an additional 65,620 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of CorVel by 27.4% during the first quarter. Public Sector Pension Investment Board now owns 86,307 shares of the business services provider's stock valued at $9,664,000 after purchasing an additional 18,576 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of CorVel from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

Insider Buying and Selling

In other news, CFO Brandon O'brien sold 1,764 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $91.54, for a total value of $161,476.56. Following the completion of the sale, the chief financial officer directly owned 8,948 shares of the company's stock, valued at approximately $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maxim Shishin sold 12,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the completion of the sale, the insider directly owned 7,050 shares of the company's stock, valued at $628,578. This represents a 62.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.56% of the stock is owned by corporate insiders.

CorVel Price Performance

NASDAQ CRVL traded down $2.62 on Friday, hitting $85.59. 121,638 shares of the company were exchanged, compared to its average volume of 154,624. The company's 50 day moving average price is $90.60 and its 200-day moving average price is $102.91. The firm has a market capitalization of $4.39 billion, a P/E ratio of 44.12 and a beta of 0.96. CorVel Corp. has a twelve month low of $84.68 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its earnings results 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%.

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.