Vident Advisory LLC Takes Position in CorVel Corp. $CRVL

Key Points

• Vident Advisory LLC has acquired a new position in CorVel Corp., purchasing 22,328 shares valued at approximately $2.5 million during the first quarter.
• CorVel's market cap stands at $4.57 billion, with a current P/E ratio of 45.90 and shares trading at around $89.05.
• Recent insider trading includes CFO Brandon O'Brien selling 3,957 shares, representing a 25.11% decrease in his ownership of the company's stock.

Vident Advisory LLC acquired a new position in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,328 shares of the business services provider's stock, valued at approximately $2,500,000.

Several other institutional investors and hedge funds also recently modified their holdings of CRVL. Northern Trust Corp boosted its position in shares of CorVel by 210.8% during the fourth quarter. Northern Trust Corp now owns 379,743 shares of the business services provider's stock worth $42,250,000 after buying an additional 257,561 shares during the period. Janus Henderson Group PLC boosted its position in shares of CorVel by 230.2% during the fourth quarter. Janus Henderson Group PLC now owns 136,908 shares of the business services provider's stock worth $15,233,000 after buying an additional 95,445 shares during the period. GAMMA Investing LLC boosted its position in shares of CorVel by 17,654.4% during the first quarter. GAMMA Investing LLC now owns 76,699 shares of the business services provider's stock worth $8,588,000 after buying an additional 76,267 shares during the period. Nuveen LLC acquired a new position in shares of CorVel during the first quarter worth about $8,533,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CorVel by 234.5% during the fourth 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 worth $10,415,000 after buying an additional 65,620 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Stock Performance

CRVL traded down $1.19 on Thursday, hitting $85.97. 124,203 shares of the company were exchanged, compared to its average volume of 134,292. The stock's fifty day moving average is $92.82 and its 200-day moving average is $104.20. The company has a market cap of $4.41 billion, a PE ratio of 44.31 and a beta of 0.96. CorVel Corp. has a 12 month low of $84.81 and a 12 month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last released 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%.

Wall Street Analysts Forecast Growth

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

Insider Activity at CorVel

In other CorVel news, insider Maxim Shishin sold 12,000 shares of the company's 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 sale, the insider owned 7,050 shares in the company, valued at $628,578. This represents a 62.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 completion of the sale, the chief financial officer owned 11,804 shares in the company, valued at $1,280,261.84. This represents a 25.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,357 shares of company stock worth $1,758,512 in the last 90 days. 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.