Teacher Retirement System of Texas trimmed its holdings in CorVel Corp. (NASDAQ:CRVL - Free Report) by 25.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,418 shares of the business services provider's stock after selling 21,852 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of CorVel worth $6,989,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in CorVel by 44.7% during the first 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. GAMMA Investing LLC boosted its position in shares of CorVel by 58.6% in the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider's stock worth $77,000 after buying an additional 253 shares during the period. KBC Group NV boosted its position in CorVel by 35.1% during the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider's stock worth $175,000 after acquiring an additional 406 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CorVel by 3.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 14,345 shares of the business services provider's stock valued at $1,606,000 after buying an additional 461 shares during the period. Finally, Spire Wealth Management boosted its position in CorVel by 8.1% during the first quarter. Spire Wealth Management now owns 5,516 shares of the business services provider's stock valued at $618,000 after purchasing an additional 413 shares during the last quarter. Institutional investors own 51.36% of the company's stock.
CorVel Price Performance
Shares of NASDAQ CRVL traded down $0.17 during trading hours on Thursday, hitting $99.71. 108,970 shares of the company's stock were exchanged, compared to its average volume of 127,947. The company's 50-day moving average price is $107.88 and its 200-day moving average price is $113.79. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 54.29 and a beta of 0.98. CorVel Corp. has a 1-year low of $86.53 and a 1-year high of $128.61.
CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%. The firm had revenue of $231.51 million during the quarter.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.
Check Out Our Latest Analysis on CRVL
Insider Activity
In other news, Director Alan Hoops sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.05, for a total value of $339,150.00. Following the completion of the sale, the director directly owned 16,688 shares in the company, valued at approximately $1,886,578.40. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director R Judd Jessup sold 935 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $113.50, for a total transaction of $106,122.50. Following the completion of the sale, the director owned 129,519 shares of the company's stock, valued at $14,700,406.50. The trade was a 0.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,079 shares of company stock valued at $1,446,023. 44.56% of the stock is owned by company insiders.
CorVel Company Profile
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Free Report)
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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