CorVel Corp. $CRVL Shares Sold by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its stake in CorVel Corp. by 0.8%, selling 6,898 shares to hold approximately 838,633 shares valued at $93.9 million.
• The stock's market cap is $4.65 billion with a P/E ratio of 46.69, showing varied performance between a fifty-two week low of $85.13 and a high of $128.61.
• Recent insider trading activity includes the sale of 687 shares by Director R Judd Jessup and 3,957 shares by CFO Brandon O'Brien, indicating active stock management by executives.

Neuberger Berman Group LLC lessened its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 838,633 shares of the business services provider's stock after selling 6,898 shares during the quarter. Neuberger Berman Group LLC owned 1.63% of CorVel worth $93,902,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in CorVel by 44.7% during the 1st quarter. Russell Investments Group Ltd. now owns 74,730 shares of the business services provider's stock valued at $8,368,000 after purchasing an additional 23,095 shares in the last quarter. Public Sector Pension Investment Board grew its stake in CorVel by 27.4% during the 1st quarter. Public Sector Pension Investment Board now owns 86,307 shares of the business services provider's stock valued at $9,664,000 after purchasing an additional 18,576 shares in the last quarter. Nuveen LLC acquired a new stake in CorVel during the 1st quarter valued at approximately $8,533,000. Benjamin Edwards Inc. grew its stake in CorVel by 20.4% during the 1st quarter. Benjamin Edwards Inc. now owns 2,383 shares of the business services provider's stock valued at $267,000 after purchasing an additional 403 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in CorVel during the 1st quarter valued at approximately $522,000. Institutional investors and hedge funds own 51.36% of the company's stock.

Insiders Place Their Bets

In other news, insider Maxim Shishin sold 2,400 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $108.09, for a total value of $259,416.00. Following the completion of the sale, the insider directly owned 7,050 shares in the company, valued at approximately $762,034.50. The trade was a 25.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark E. Bertels sold 900 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.34, for a total value of $102,006.00. Following the completion of the sale, the executive vice president owned 2,586 shares of the company's stock, valued at $293,097.24. This trade represents a 25.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,079 shares of company stock worth $1,446,023. Corporate insiders own 44.56% of the company's stock.

CorVel Trading Up 0.7%

NASDAQ CRVL traded up $0.60 during mid-day trading on Monday, reaching $88.82. 121,025 shares of the company's stock traded hands, compared to its average volume of 133,840. CorVel Corp. has a 1-year low of $85.13 and a 1-year high of $128.61. The company has a fifty day simple moving average of $96.75 and a 200-day simple moving average of $106.70. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 45.78 and a beta of 0.95.

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

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.