Rhumbline Advisers Sells 4,292 Shares of CorVel Corp. $CRVL

Key Points

• Rhumbline Advisers reduced its holdings in CorVel Corp. by 5.1%, selling 4,292 shares and owning 80,432 shares worth approximately $9 million as of the last quarter.
• Several institutional investors increased their positions in CorVel, with Allworth Financial LP raising its holdings by 4,000% during the same quarter.
• CorVel's CFO recently sold a significant amount of stock, leading to a 16.47% decrease in their position, and this has prompted concern as it reflects potential insider selling trends.

Rhumbline Advisers lessened its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,432 shares of the business services provider's stock after selling 4,292 shares during the quarter. Rhumbline Advisers owned about 0.16% of CorVel worth $9,006,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of CorVel during the 1st quarter valued at about $25,000. von Borstel & Associates Inc. purchased a new position in shares of CorVel in the 1st quarter worth about $28,000. Allworth Financial LP raised its holdings in shares of CorVel by 4,000.0% during the 1st quarter. Allworth Financial LP now owns 574 shares of the business services provider's stock valued at $64,000 after buying an additional 560 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CorVel by 58.6% during the 1st quarter. GAMMA Investing LLC now owns 685 shares of the business services provider's stock valued at $77,000 after buying an additional 253 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of CorVel by 44.7% during the 1st quarter. Farther Finance Advisors LLC now owns 816 shares of the business services provider's stock valued at $93,000 after buying an additional 252 shares in the last quarter. Institutional investors own 51.36% of the company's stock.

CorVel Price Performance

Shares of CorVel stock opened at $85.65 on Thursday. The business's 50 day simple moving average is $91.23 and its two-hundred day simple moving average is $103.21. The stock has a market capitalization of $4.39 billion, a P/E ratio of 44.15 and a beta of 0.96. CorVel Corp. has a one year low of $84.68 and a one year high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly 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 1,764 shares of CorVel stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $91.54, for a total value of $161,476.56. Following the sale, the chief financial officer directly owned 8,948 shares in the company, valued at approximately $819,099.92. This trade represents a 16.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maxim Shishin sold 12,000 shares of CorVel stock in a transaction that occurred on 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 completion of the sale, the insider owned 7,050 shares in the company, 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. 44.56% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut CorVel from a "buy" rating to a "hold" rating in a report on Saturday, August 30th.

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.

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