Convergence Investment Partners LLC lessened its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 25.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,081 shares of the business services provider’s stock after selling 1,423 shares during the period. Convergence Investment Partners LLC’s holdings in CorVel were worth $266,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in CRVL. Quantamental Technologies LLC bought a new stake in shares of CorVel during the 4th quarter valued at about $25,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of CorVel during the 1st quarter valued at about $30,000. Financial Gravity Wealth Inc. bought a new stake in shares of CorVel during the 1st quarter valued at about $48,000. BNP Paribas Arbitrage SA grew its position in shares of CorVel by 818.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the business services provider’s stock valued at $137,000 after buying an additional 1,874 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of CorVel by 148.0% during the 4th quarter. Acadian Asset Management LLC now owns 2,351 shares of the business services provider’s stock valued at $146,000 after buying an additional 1,403 shares during the last quarter. 48.73% of the stock is owned by institutional investors and hedge funds.
In other CorVel news, Chairman V Gordon Clemons sold 3,000 shares of the company’s stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $62.27, for a total value of $186,810.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Corstar Holdings Inc sold 5,295 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $72.08, for a total transaction of $381,663.60. Following the completion of the transaction, the insider now owns 6,811,318 shares of the company’s stock, valued at approximately $490,959,801.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,708 shares of company stock valued at $11,551,890. 51.40% of the stock is owned by insiders.
NASDAQ CRVL opened at $71.26 on Thursday. CorVel Co. has a 52 week low of $50.10 and a 52 week high of $73.15. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 31.65 and a beta of 0.72.
CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, February 5th. The business services provider reported $0.54 EPS for the quarter. CorVel had a net margin of 7.45% and a return on equity of 23.84%. The firm had revenue of $146.08 million during the quarter.
Separately, BidaskClub cut shares of CorVel from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 11th.
CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.
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