MGO One Seven LLC Makes New Investment in CorVel Corp. $CRVL

Key Points

• MGO One Seven LLC acquired a new investment in CorVel Corp. during Q2, purchasing 7,002 shares valued at approximately $720,000.
• Several institutional investors, including Callan Family Office LLC, significantly increased their stakes in CorVel, with Callan increasing its position by 1,101.3% to hold 51,452 shares worth $5,288,000.
• CorVel's CFO recently sold shares, decreasing their position by 16.47%, reflecting ongoing insider trading activities amid analytical discussions about the company's stock rating.

MGO One Seven LLC purchased a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,002 shares of the business services provider's stock, valued at approximately $720,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC raised its position in CorVel by 4.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,534 shares of the business services provider's stock worth $569,000 after acquiring an additional 217 shares during the period. Apollon Wealth Management LLC raised its position in CorVel by 8.2% in the second quarter. Apollon Wealth Management LLC now owns 5,151 shares of the business services provider's stock worth $529,000 after acquiring an additional 392 shares during the period. Inspire Investing LLC raised its position in CorVel by 23.6% in the second quarter. Inspire Investing LLC now owns 3,788 shares of the business services provider's stock worth $389,000 after acquiring an additional 723 shares during the period. Blue Trust Inc. increased its stake in shares of CorVel by 235.4% in the second quarter. Blue Trust Inc. now owns 550 shares of the business services provider's stock worth $57,000 after purchasing an additional 386 shares in the last quarter. Finally, Callan Family Office LLC increased its stake in shares of CorVel by 1,101.3% in the second quarter. Callan Family Office LLC now owns 51,452 shares of the business services provider's stock worth $5,288,000 after purchasing an additional 47,169 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CorVel

In other CorVel news, CFO Brandon O'brien sold 1,764 shares of CorVel stock in a transaction on Monday, September 8th. The shares were sold at an average price of $91.54, for a total value of $161,476.56. Following the completion of the transaction, the chief financial officer directly owned 8,948 shares of the company's stock, valued at $819,099.92. This trade represents a 16.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Maxim Shishin sold 12,000 shares of CorVel stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the transaction, the insider directly owned 7,050 shares of the company's stock, valued at $628,578. The trade was a 62.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 44.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRVL shares. Wall Street Zen raised shares of CorVel from a "hold" rating to a "buy" rating in a research note on Sunday, October 12th. Weiss Ratings reissued a "hold (c)" rating on shares of CorVel in a research note on Tuesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold".

CorVel Stock Performance

CRVL opened at $70.58 on Friday. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 36.38 and a beta of 0.95. The company has a fifty day moving average of $82.71 and a 200 day moving average of $97.65. CorVel Corp. has a fifty-two week low of $70.47 and a fifty-two week high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter. The company had revenue of $234.71 million during the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

CorVel 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.

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