CorVel Co. (NASDAQ:CRVL) Shares Sold by West Coast Financial LLC

West Coast Financial LLC lowered its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 50.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,512 shares of the business services provider's stock after selling 46,022 shares during the quarter. West Coast Financial LLC owned 0.09% of CorVel worth $4,984,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC grew its holdings in CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after purchasing an additional 170 shares during the period. Bessemer Group Inc. lifted its stake in shares of CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of CorVel during the 4th quarter valued at about $37,000. US Bancorp DE grew its position in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after acquiring an additional 266 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of CorVel by 300.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock valued at $53,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

CorVel Stock Down 1.2%

Shares of CRVL traded down $1.36 during midday trading on Monday, hitting $108.20. The company had a trading volume of 119,195 shares, compared to its average volume of 120,067. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 63.65 and a beta of 1.02. The company's 50 day moving average price is $112.07 and its 200 day moving average price is $116.20. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%. The firm had revenue of $231.51 million during the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.

Insider Buying and Selling

In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of the business's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the completion of the transaction, the director now directly owns 551,787 shares of the company's stock, valued at $64,553,561.13. The trade was a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Judd Jessup sold 935 shares of the firm's stock in a transaction that occurred on 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 now owns 129,519 shares in the company, 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. Insiders have sold 23,245 shares of company stock worth $2,690,457 over the last ninety days. 47.57% of the stock is owned by insiders.

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.