Strs Ohio Invests $1.03 Million in CorVel Corp. $CRVL

Key Points

• Strs Ohio acquired 9,200 shares of CorVel Corp. (NASDAQ: CRVL), valued at approximately $1,030,000, indicating increasing institutional interest in the company.
• Several other institutional investors, including Principal Financial Group and UBS Asset Management, also increased their stakes in CorVel during the first quarter.
• Wall Street analyst ratings have changed, with Wall Street Zen lowering CorVel's rating from "buy" to "hold" as of August 30th.

Strs Ohio bought a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,200 shares of the business services provider's stock, valued at approximately $1,030,000.

Other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of CorVel by 2.7% in the first quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider's stock worth $16,085,000 after buying an additional 3,818 shares during the period. Algert Global LLC increased its stake in shares of CorVel by 5.6% in the first quarter. Algert Global LLC now owns 103,079 shares of the business services provider's stock worth $11,542,000 after buying an additional 5,430 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in CorVel by 5.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,570 shares of the business services provider's stock valued at $11,037,000 after buying an additional 4,964 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in CorVel by 234.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider's stock valued at $10,415,000 after buying an additional 65,620 shares during the period. Finally, Public Sector Pension Investment Board grew its holdings in CorVel by 27.4% in the 1st quarter. Public Sector Pension Investment Board now owns 86,307 shares of the business services provider's stock worth $9,664,000 after acquiring an additional 18,576 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CorVel Stock Up 0.1%

Shares of NASDAQ CRVL traded up $0.04 on Monday, reaching $79.49. 209,714 shares of the company's stock traded hands, compared to its average volume of 203,504. The business's 50 day simple moving average is $88.45 and its two-hundred day simple moving average is $101.69. CorVel Corp. has a 12 month low of $78.73 and a 12 month high of $128.61. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 40.97 and a beta of 0.96.

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

Insider Activity at CorVel

In other news, CFO Brandon O'brien sold 1,764 shares of CorVel stock in a transaction that occurred 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 sale, the chief financial officer directly owned 8,948 shares in the company, valued at $819,099.92. The trade was a 16.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Maxim Shishin sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following 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. Corporate insiders own 44.56% of the company's stock.

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.