CorVel Corp. $CRVL Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its stake in CorVel Corp. by 1,101.3% during the 2nd quarter, owning 51,452 shares valued at approximately $5.3 million.
• CorVel's stock has experienced a 1-year low of $71.56 and a 1-year high of $128.61, with its shares opening at $72.65 recently.
• Insider trading activity included a notable sale by insider Maxim Shishin of 12,000 shares at an average price of $89.16, marking a significant decrease in their shareholding.

Callan Family Office LLC increased its stake in CorVel Corp. (NASDAQ:CRVL - Free Report) by 1,101.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,452 shares of the business services provider's stock after acquiring an additional 47,169 shares during the period. Callan Family Office LLC owned approximately 0.10% of CorVel worth $5,288,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of CorVel by 2.7% in 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 acquiring an additional 3,818 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of CorVel by 44.7% in the first quarter. Farther Finance Advisors LLC now owns 816 shares of the business services provider's stock valued at $93,000 after acquiring an additional 252 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of CorVel by 58.6% in the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider's stock valued at $77,000 after acquiring an additional 253 shares in the last quarter. KBC Group NV raised its stake in shares of CorVel by 35.1% in the first quarter. KBC Group NV now owns 1,564 shares of the business services provider's stock valued at $175,000 after acquiring an additional 406 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in CorVel by 3.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,345 shares of the business services provider's stock valued at $1,606,000 after buying an additional 461 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

CorVel Stock Performance

Shares of CRVL stock opened at $72.65 on Friday. The stock's 50-day moving average is $83.95 and its two-hundred day moving average is $98.76. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 37.45 and a beta of 0.95. CorVel Corp. has a 1 year low of $71.56 and a 1 year high of $128.61.

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 (EPS) for the quarter. The company had revenue of $234.71 million for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Activity

In other CorVel news, insider Maxim Shishin sold 12,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the transaction, the insider owned 7,050 shares of the company's stock, valued at approximately $628,578. This trade represents a 62.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brandon O'brien sold 1,764 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $91.54, for a total value of $161,476.56. Following the transaction, the chief financial officer directly owned 8,948 shares in the company, valued at approximately $819,099.92. The trade was a 16.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 44.56% of the company's stock.

Wall Street Analysts Forecast Growth

CRVL has been the topic of a number of analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of CorVel in a research note on Saturday, September 27th. Wall Street Zen cut CorVel from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

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.

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