CorVel Corp. $CRVL Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in CorVel Corp. by 9.2%, bringing its total shares to 258,590, valued at approximately $28.95 million.
• Several institutional investors, such as Envestnet Asset Management Inc. and Barclays PLC, made significant increases in their ownership of CorVel in the last quarter, with Envestnet boosting its holdings by 201.6%.
• Insider trading activity included the sale of shares by CFO Brandon O'Brien and others, with insiders collectively selling 13,079 shares worth $1.45 million during the last quarter.

Invesco Ltd. cut its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,590 shares of the business services provider's stock after selling 26,176 shares during the period. Invesco Ltd. owned about 0.50% of CorVel worth $28,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in CorVel during the first quarter worth about $25,000. LGT Financial Advisors LLC increased its stake in CorVel by 200.0% during 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 during the first quarter worth about $28,000. Allworth Financial LP increased its stake in CorVel by 4,000.0% during the first quarter. Allworth Financial LP now owns 574 shares of the business services provider's stock worth $64,000 after purchasing an additional 560 shares during the period. Finally, GAMMA Investing LLC grew its position 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 worth $77,000 after buying an additional 253 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Price Performance

Shares of CorVel stock traded down $2.19 on Monday, reaching $90.45. 140,575 shares of the company were exchanged, compared to its average volume of 155,520. CorVel Corp. has a 1-year low of $85.13 and a 1-year high of $128.61. The company has a market cap of $4.64 billion, a P/E ratio of 46.62 and a beta of 0.95. The stock's 50 day moving average price is $94.79 and its 200-day moving average price is $105.42.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The business services provider reported $0.52 EPS for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Buying and Selling at CorVel

In other news, Director R Judd Jessup sold 935 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $113.50, for a total transaction of $106,122.50. Following the completion of the transaction, the director directly owned 129,519 shares of the company's stock, valued at approximately $14,700,406.50. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $628,578. This represents a 62.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,079 shares of company stock valued at $2,515,943. 44.56% of the stock is currently owned by company insiders.

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.