SG Americas Securities LLC lifted its holdings in CorVel Corp. (NASDAQ:CRVL - Free Report) by 519.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.
Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of CorVel by 58.6% during the 1st 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 during the period. Farther Finance Advisors LLC lifted its position in shares of CorVel by 44.7% during the 1st 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 during the period. Impact Capital Partners LLC lifted its position in shares of CorVel by 8.3% during the 1st quarter. Impact Capital Partners LLC now owns 7,568 shares of the business services provider's stock valued at $847,000 after acquiring an additional 583 shares during the period. Chatham Capital Group Inc. lifted its position in shares of CorVel by 4.4% during the 1st quarter. Chatham Capital Group Inc. now owns 57,955 shares of the business services provider's stock valued at $6,489,000 after acquiring an additional 2,440 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of CorVel by 196.0% during the 4th quarter. California State Teachers Retirement System now owns 26,310 shares of the business services provider's stock valued at $2,927,000 after acquiring an additional 17,421 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at CorVel
In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the sale, the director now directly owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brandon O'brien sold 3,957 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $108.46, for a total transaction of $429,176.22. Following the sale, the chief financial officer now directly owns 11,804 shares of the company's stock, valued at $1,280,261.84. This 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 29,602 shares of company stock valued at $3,379,049 in the last ninety days. Corporate insiders own 47.57% of the company's stock.
Analysts Set New Price Targets
Separately, Wall Street Zen upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research report on Friday, April 18th.
View Our Latest Research Report on CRVL
CorVel Price Performance
Shares of CRVL stock traded down $0.39 during midday trading on Friday, reaching $102.11. 180,794 shares of the company traded hands, compared to its average volume of 119,739. The firm's 50 day simple moving average is $110.65 and its two-hundred day simple moving average is $115.09. CorVel Corp. has a 1-year low of $81.46 and a 1-year high of $128.61. The firm has a market cap of $5.24 billion, a PE ratio of 55.60 and a beta of 1.02.
CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%. The business had revenue of $231.51 million during the quarter.
About CorVel
(
Free Report)
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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