CorVel Corp. $CRVL Shares Bought by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. significantly increased its stake in CorVel Corp. by 92.7%, acquiring an additional 28,883 shares, bringing their total ownership to 60,026 shares valued at approximately $6.72 million.
• Multiple hedge funds, including LPL Financial and Envestnet Asset Management, also raised their positions in CorVel by over 183% during the last quarter, indicating strong institutional interest.
• CorVel Corp. was upgraded from a "hold" to a "buy" rating by Wall Street Zen, amidst a backdrop of fluctuating stock performance and a market cap of $4.54 billion.

Vestmark Advisory Solutions Inc. raised its stake in CorVel Corp. (NASDAQ:CRVL - Free Report) by 92.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 60,026 shares of the business services provider's stock after purchasing an additional 28,883 shares during the period. Vestmark Advisory Solutions Inc. owned 0.12% of CorVel worth $6,721,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in shares of CorVel by 44.7% during the first quarter. Russell Investments Group Ltd. now owns 74,730 shares of the business services provider's stock worth $8,368,000 after purchasing an additional 23,095 shares during the last quarter. Public Sector Pension Investment Board raised its stake in CorVel by 27.4% during the first quarter. Public Sector Pension Investment Board now owns 86,307 shares of the business services provider's stock valued at $9,664,000 after buying an additional 18,576 shares in the last quarter. Nuveen LLC bought a new position in CorVel during the 1st quarter worth approximately $8,533,000. Benjamin Edwards Inc. lifted its holdings in CorVel by 20.4% during the 1st quarter. Benjamin Edwards Inc. now owns 2,383 shares of the business services provider's stock worth $267,000 after buying an additional 403 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of CorVel in the 1st quarter worth approximately $522,000. Institutional investors and hedge funds own 51.36% of the company's stock.

CorVel Price Performance

Shares of CRVL stock traded down $0.58 on Wednesday, hitting $88.93. 149,012 shares of the stock traded hands, compared to its average volume of 160,467. The company's fifty day moving average is $95.60 and its 200 day moving average is $106.27. CorVel Corp. has a 1-year low of $85.13 and a 1-year high of $128.61. The company has a market capitalization of $4.56 billion, a PE ratio of 45.84 and a beta of 0.95.

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

Insiders Place Their Bets

In other CorVel news, insider Maxim Shishin sold 2,400 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $108.09, for a total value of $259,416.00. Following the transaction, the insider owned 7,050 shares of the company's stock, valued at $762,034.50. This trade represents a 25.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brandon O'brien sold 3,957 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $108.46, for a total value of $429,176.22. Following the transaction, the chief financial officer directly owned 11,804 shares of the company's stock, valued at $1,280,261.84. This trade represents a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,079 shares of company stock worth $1,446,023. Corporate insiders own 44.56% of the company's stock.

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.