Kayne Anderson Rudnick Investment Management LLC Has $638.95 Million Stock Holdings in CorVel Corp. $CRVL

Key Points

• Kayne Anderson Rudnick Investment Management LLC reduced its stake in CorVel Corp. by 0.1%, now owning 5,706,443 shares, which constitutes 1.6% of their investment portfolio.
• Several large investors, including Allworth Financial LP, have significantly increased their positions in CorVel during the first quarter, indicating growing interest in the company.
• CorVel's stock is currently trading at $92.64, with significant fluctuations over the past year, marking a 12-month low of $85.13 and a high of $128.61.

Kayne Anderson Rudnick Investment Management LLC decreased its stake in CorVel Corp. (NASDAQ:CRVL - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,706,443 shares of the business services provider's stock after selling 7,908 shares during the period. CorVel accounts for 1.6% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 11th largest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 11.11% of CorVel worth $638,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CRVL. Barclays PLC lifted its holdings in shares of CorVel by 209.3% in the 4th quarter. Barclays PLC now owns 49,409 shares of the business services provider's stock worth $5,497,000 after purchasing an additional 33,432 shares during the last quarter. Mariner LLC increased its position in CorVel by 214.3% in the 4th quarter. Mariner LLC now owns 2,637 shares of the business services provider's stock valued at $293,000 after acquiring an additional 1,798 shares during the period. Marshall Wace LLP acquired a new stake in CorVel in the 4th quarter valued at approximately $671,000. CANADA LIFE ASSURANCE Co increased its position in CorVel by 200.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 26,409 shares of the business services provider's stock valued at $2,938,000 after acquiring an additional 17,606 shares during the period. Finally, First Trust Advisors LP increased its position in CorVel by 338.6% in the 4th quarter. First Trust Advisors LP now owns 69,568 shares of the business services provider's stock valued at $7,740,000 after acquiring an additional 53,707 shares during the period. Institutional investors own 51.36% of the company's stock.

CorVel Trading Down 0.8%

CRVL traded down $0.69 during trading hours on Tuesday, hitting $89.76. The company's stock had a trading volume of 151,257 shares, compared to its average volume of 153,483. CorVel Corp. has a fifty-two week low of $85.13 and a fifty-two week high of $128.61. The firm has a market capitalization of $4.61 billion, a PE ratio of 46.27 and a beta of 0.95. The company has a 50-day simple moving average of $94.53 and a 200 day simple moving average of $105.31.

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 return on equity of 32.31% and a net margin of 10.98%.

Insider Buying and Selling

In other news, 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 transaction of $429,176.22. Following the completion of the sale, the chief financial officer directly owned 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the sale, 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 three months, insiders sold 20,244 shares of company stock valued at $1,968,664. 44.56% of the stock is currently owned by company insiders.

CorVel Company Profile

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.