West Coast Financial LLC Trims Stock Holdings in CorVel Co. (NASDAQ:CRVL)

West Coast Financial LLC lowered its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 50.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,512 shares of the business services provider's stock after selling 46,022 shares during the quarter. West Coast Financial LLC owned approximately 0.09% of CorVel worth $4,984,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of CorVel by 193.7% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock valued at $635,779,000 after purchasing an additional 3,768,440 shares during the period. Vanguard Group Inc. increased its holdings in shares of CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after purchasing an additional 2,195,466 shares during the period. Renaissance Technologies LLC increased its holdings in shares of CorVel by 184.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after purchasing an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of CorVel by 187.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock valued at $171,969,000 after purchasing an additional 1,007,651 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in shares of CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock valued at $94,074,000 after purchasing an additional 567,984 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

CorVel Stock Performance

CRVL stock remained flat at $109.56 on Friday. The company had a trading volume of 81,991 shares, compared to its average volume of 119,905. The company has a fifty day moving average of $112.07 and a two-hundred day moving average of $116.24. CorVel Co. has a 52-week low of $76.53 and a 52-week high of $128.61. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 64.45 and a beta of 1.02.

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 for the quarter.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other CorVel news, VP Jennifer Yoss sold 1,050 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $111.39, for a total value of $116,959.50. Following the sale, the vice president now owns 2,088 shares of the company's stock, valued at approximately $232,582.32. This represents a 33.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Judd Jessup sold 935 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $113.50, for a total value of $106,122.50. Following the completion of the sale, the director now directly owns 129,519 shares in the company, valued at $14,700,406.50. This trade represents 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 valued at $2,690,457 over the last quarter. Company insiders own 47.57% of the company's stock.

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.