Vanguard Group Inc. Has $361.96 Million Holdings in CorVel Corp. $CRVL

Key Points

• Vanguard Group Inc. reduced its position in CorVel Corp. by 1.5%, now holding approximately 3.23 million shares, which represents about 6.29% of the company.
• Several other institutional investors have modified their holdings, with some making significant increases, including a 6,350.0% increase by Bessemer Group Inc. in the previous quarter.
• Corporate insiders, including Director R Judd Jessup and VP Jennifer Yoss, sold a total of 13,079 shares in the last three months, representing a combined value of approximately $1.45 million.

Vanguard Group Inc. decreased its holdings in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,232,637 shares of the business services provider's stock after selling 49,012 shares during the quarter. Vanguard Group Inc. owned approximately 6.29% of CorVel worth $361,958,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CRVL. Meeder Asset Management Inc. acquired a new stake in shares of CorVel in the first quarter worth $25,000. LGT Financial Advisors LLC lifted its stake in shares of CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock worth $28,000 after buying an additional 170 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after buying an additional 254 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of CorVel in the first quarter worth $28,000. Finally, Federated Hermes Inc. lifted its stake in shares of CorVel by 154.9% in the fourth quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock worth $55,000 after buying an additional 299 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.

Insiders Place Their Bets

In related news, CFO Brandon O'brien sold 3,957 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $108.46, for a total transaction of $429,176.22. Following the completion of the transaction, the chief financial officer directly owned 11,804 shares in the company, valued at $1,280,261.84. This represents a 25.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director R Judd Jessup sold 687 shares of the company'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 transaction, the director owned 128,832 shares of the company's stock, valued at approximately $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. Insiders sold 25,079 shares of company stock valued at $2,515,943 in the last three months. Company insiders own 44.56% of the company's stock.

CorVel Stock Performance

Shares of CorVel stock traded up $1.13 on Thursday, reaching $90.06. The stock had a trading volume of 174,535 shares, compared to its average volume of 162,958. The business's 50-day moving average price is $95.29 and its two-hundred day moving average price is $106.10. CorVel Corp. has a fifty-two week low of $85.13 and a fifty-two week high of $128.61. The stock has a market cap of $4.62 billion, a P/E ratio of 46.42 and a beta of 0.95.

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

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.