Raymond James & Associates Boosts Stake in CorVel Co. (NASDAQ:CRVL)

Raymond James & Associates grew its position in shares of CorVel Co. (NASDAQ:CRVLGet Rating) by 2,449.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 42,787 shares of the business services provider’s stock after acquiring an additional 41,109 shares during the period. Raymond James & Associates owned about 0.24% of CorVel worth $5,923,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRVL. Ancora Advisors LLC boosted its position in shares of CorVel by 377.9% in the 1st quarter. Ancora Advisors LLC now owns 18,251 shares of the business services provider’s stock worth $1,872,000 after purchasing an additional 14,432 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CorVel by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 1,111,277 shares of the business services provider’s stock worth $187,184,000 after purchasing an additional 12,430 shares in the last quarter. State Street Corp boosted its position in shares of CorVel by 3.8% in the 1st quarter. State Street Corp now owns 318,373 shares of the business services provider’s stock worth $53,627,000 after purchasing an additional 11,548 shares in the last quarter. Boston Trust Walden Corp boosted its position in shares of CorVel by 3.2% in the 3rd quarter. Boston Trust Walden Corp now owns 246,040 shares of the business services provider’s stock worth $34,059,000 after purchasing an additional 7,639 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in CorVel by 85.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 16,410 shares of the business services provider’s stock valued at $2,416,000 after acquiring an additional 7,583 shares in the last quarter. 50.75% of the stock is owned by institutional investors.

CorVel Trading Up 1.3 %

CRVL stock opened at $156.43 on Monday. The stock has a market capitalization of $2.70 billion, a PE ratio of 43.21 and a beta of 1.00. CorVel Co. has a 12-month low of $129.19 and a 12-month high of $206.98. The stock’s 50 day simple moving average is $147.72 and its 200 day simple moving average is $152.04.

CorVel (NASDAQ:CRVLGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The business services provider reported $0.83 earnings per share (EPS) for the quarter. The business had revenue of $177.43 million for the quarter. CorVel had a return on equity of 31.22% and a net margin of 9.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on CorVel in a research report on Wednesday, October 12th. They issued a “buy” rating on the stock.

Insider Activity

In other news, Chairman V Gordon Clemons sold 1,066 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $150.06, for a total transaction of $159,963.96. Following the transaction, the chairman now directly owns 430,534 shares of the company’s stock, valued at approximately $64,605,932.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark E. Bertels sold 750 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $153.00, for a total transaction of $114,750.00. Following the transaction, the executive vice president now directly owns 850 shares of the company’s stock, valued at approximately $130,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman V Gordon Clemons sold 1,066 shares of the stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $150.06, for a total value of $159,963.96. Following the transaction, the chairman now directly owns 430,534 shares in the company, valued at $64,605,932.04. The disclosure for this sale can be found here. Insiders have sold 13,317 shares of company stock valued at $2,032,034 in the last ninety days. 48.56% of the stock is currently owned by company insiders.

About CorVel

(Get Rating)

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.

See Also

Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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