Nuveen LLC Makes New $8.53 Million Investment in CorVel Corp. $CRVL

Key Points

• Nuveen LLC has made a new investment of approximately $8.53 million in CorVel Corp by acquiring 76,209 shares, representing a 0.15% stake in the company.
• CorVel's stock opened at $92.64, with a yearly performance range between a low of $85.13 and a high of $128.61.
• Insider activity includes notable sales, with VP Jennifer Yoss and Director R Judd Jessup selling shares, indicating potential changes in insider confidence in the firm.

Nuveen LLC acquired a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,209 shares of the business services provider's stock, valued at approximately $8,533,000. Nuveen LLC owned approximately 0.15% of CorVel at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CRVL. Barclays PLC boosted its holdings in CorVel by 209.3% in the fourth 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 in the last quarter. Mariner LLC grew its stake 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 buying an additional 1,798 shares during the last quarter. Marshall Wace LLP acquired a new position in CorVel in the 4th quarter valued at $671,000. CANADA LIFE ASSURANCE Co grew its stake 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 buying an additional 17,606 shares during the last quarter. Finally, First Trust Advisors LP grew its stake 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 buying an additional 53,707 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

CorVel Price Performance

NASDAQ:CRVL traded up $0.45 during midday trading on Wednesday, reaching $90.21. The stock had a trading volume of 102,534 shares, compared to its average volume of 134,293. CorVel Corp. has a 1-year low of $85.13 and a 1-year high of $128.61. The firm's fifty day simple moving average is $94.53 and its 200-day simple moving average is $105.31. The stock has a market capitalization of $4.63 billion, a P/E ratio of 46.50 and a beta of 0.95.

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 (EPS) for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Insider Activity

In related news, insider Maxim Shishin sold 12,000 shares of the firm'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 transaction, the insider directly owned 7,050 shares in the company, valued at approximately $628,578. This trade represents a 62.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director R Judd Jessup sold 687 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $111.25, for a total transaction of $76,428.75. Following the completion of the transaction, the director owned 128,832 shares in the company, valued at $14,332,560. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,244 shares of company stock valued at $1,968,664. 44.56% of the stock is owned by corporate insiders.

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.