SG Americas Securities LLC Buys 7,896 Shares of CorVel Corp. (NASDAQ:CRVL)

SG Americas Securities LLC lifted its stake in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 519.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,416 shares of the business services provider's stock after buying an additional 7,896 shares during the quarter. SG Americas Securities LLC's holdings in CorVel were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of CRVL. Allspring Global Investments Holdings LLC grew its holdings in CorVel by 32,000.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,247 shares of the business services provider's stock worth $245,000 after purchasing an additional 2,240 shares during the period. New York State Teachers Retirement System grew its holdings in CorVel by 200.0% in the fourth quarter. New York State Teachers Retirement System now owns 26,172 shares of the business services provider's stock worth $2,912,000 after purchasing an additional 17,448 shares during the period. Rhumbline Advisers grew its holdings in CorVel by 210.6% in the fourth quarter. Rhumbline Advisers now owns 84,724 shares of the business services provider's stock worth $9,426,000 after purchasing an additional 57,445 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in CorVel by 176.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 17,574 shares of the business services provider's stock worth $1,955,000 after purchasing an additional 11,228 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in CorVel by 210.2% in the fourth quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider's stock worth $15,558,000 after purchasing an additional 94,751 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Maxim Shishin sold 2,400 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $108.09, for a total transaction of $259,416.00. Following the sale, the insider now owns 7,050 shares in the company, valued at $762,034.50. This represents a 25.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Judd Jessup sold 935 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.50, for a total transaction of $106,122.50. Following the transaction, the director now owns 129,519 shares in the company, valued at approximately $14,700,406.50. This trade represents a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,602 shares of company stock worth $3,379,049 over the last 90 days. 47.57% of the stock is currently owned by insiders.

CorVel Trading Down 0.4%

CRVL traded down $0.39 during midday trading on Friday, reaching $102.11. The company's stock had a trading volume of 180,794 shares, compared to its average volume of 120,648. The stock's 50-day moving average is $110.65 and its 200-day moving average is $115.13. CorVel Corp. has a 1 year low of $81.46 and a 1 year high of $128.61. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 55.60 and a beta of 1.02.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%. The firm had revenue of $231.51 million for the quarter.

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.