Price T Rowe Associates Inc. MD Reduces Stock Position in CorVel Corp. $CRVL

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in CorVel Corp. by 5.4%, selling 33,814 shares in the first quarter, leaving them with 591,798 shares worth $66.26 million.
• CorVel Corp.'s stock has seen a slight decline of 0.8%, with a current share price of $89.76, compared to its 52-week high of $128.61.
• Insider trading activity has increased, with the CFO and a director selling a combined total of 24,201 shares over recent months, impacting their ownership stakes.

Price T Rowe Associates Inc. MD cut its position in CorVel Corp. (NASDAQ:CRVL - Free Report) by 5.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,798 shares of the business services provider's stock after selling 33,814 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.15% of CorVel worth $66,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of CorVel by 210.8% in the fourth quarter. Northern Trust Corp now owns 379,743 shares of the business services provider's stock worth $42,250,000 after purchasing an additional 257,561 shares during the last quarter. Janus Henderson Group PLC grew its stake in CorVel by 230.2% in the 4th quarter. Janus Henderson Group PLC now owns 136,908 shares of the business services provider's stock worth $15,233,000 after buying an additional 95,445 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of CorVel by 6,621.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 85,434 shares of the business services provider's stock worth $9,505,000 after buying an additional 84,163 shares during the last quarter. GAMMA Investing LLC raised its position in shares of CorVel by 17,654.4% during the 1st quarter. GAMMA Investing LLC now owns 76,699 shares of the business services provider's stock valued at $8,588,000 after buying an additional 76,267 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of CorVel during the 1st quarter valued at $8,533,000. 51.36% of the stock is owned by institutional investors.

CorVel Trading Down 0.3%

Shares of 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 52 week low of $85.13 and a 52 week high of $128.61. The company's fifty day moving average price is $93.47 and its two-hundred day moving average price is $104.43. The stock has a market cap of $4.57 billion, a PE ratio of 45.90 and a beta of 0.96.

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

Insider Activity

In other news, CFO Brandon O'brien sold 3,957 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 11,804 shares of the company's stock, valued at approximately $1,280,261.84. The trade was a 25.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maxim Shishin sold 12,000 shares of the firm's stock in a transaction that occurred 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 owned 7,050 shares in the company, valued at approximately $628,578. The trade was a 62.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,357 shares of company stock worth $1,758,512. Company insiders own 44.56% of the company's stock.

Analyst Ratings Changes

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

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.