Jump Financial LLC Grows Stake in CorVel Corp. $CRVL

Key Points

• Jump Financial LLC increased its stake in CorVel Corp. by 46.7% in the first quarter, now owning 14,651 shares valued at approximately $1.64 million.
• CorVel's CFO and an insider sold shares, leading to a 25.11% and 62.99% decrease in their holdings, respectively, with insiders collectively owning 44.56% of the stock.
• As of the recent trading session, CorVel shares opened at $90.21, with a market cap of $4.63 billion and a P/E ratio of 46.50.

Jump Financial LLC boosted its position in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 46.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,651 shares of the business services provider's stock after buying an additional 4,664 shares during the quarter. Jump Financial LLC's holdings in CorVel were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Meeder Asset Management Inc. purchased a new stake in shares of CorVel in the first quarter worth approximately $25,000. LGT Financial Advisors LLC increased its stake in CorVel by 200.0% in 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 during the period. von Borstel & Associates Inc. purchased a new stake in CorVel in the first quarter worth $28,000. Allworth Financial LP boosted its stake in shares of CorVel by 4,000.0% during the first quarter. Allworth Financial LP now owns 574 shares of the business services provider's stock valued at $64,000 after purchasing an additional 560 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of CorVel by 58.6% during the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider's stock valued at $77,000 after purchasing an additional 253 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, insider Maxim Shishin sold 12,000 shares of CorVel stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total value of $1,069,920.00. Following the transaction, the insider directly owned 7,050 shares in the company, valued at approximately $628,578. This trade represents a 62.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brandon O'brien sold 3,957 shares of the company's 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 sale, the chief financial officer owned 11,804 shares of the company's stock, valued at $1,280,261.84. This trade represents a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,357 shares of company stock worth $1,758,512 over the last quarter. Company insiders own 44.56% of the company's stock.

CorVel Stock Down 0.3%

NASDAQ:CRVL traded down $0.25 during mid-day trading on Monday, reaching $89.05. The company's stock had a trading volume of 138,151 shares, compared to its average volume of 143,003. CorVel Corp. has a 1 year low of $85.13 and a 1 year high of $128.61. The stock has a fifty day moving average of $93.76 and a 200-day moving average of $104.63. The firm has a market capitalization of $4.57 billion, a PE ratio of 45.90 and a beta of 0.96.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The business services provider reported $0.52 EPS 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.