Bank of New York Mellon Corp Decreases Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Bank of New York Mellon Corp trimmed its position in CorVel Co. (NASDAQ:CRVL) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,195 shares of the business services provider’s stock after selling 337 shares during the quarter. Bank of New York Mellon Corp owned 0.49% of CorVel worth $16,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new position in shares of CorVel in the fourth quarter worth $26,000. Quadrant Capital Group LLC increased its stake in shares of CorVel by 170.8% in the fourth quarter. Quadrant Capital Group LLC now owns 195 shares of the business services provider’s stock worth $28,000 after buying an additional 123 shares during the period. Eagle Bay Advisors LLC purchased a new position in shares of CorVel in the second quarter worth $34,000. Federated Hermes Inc. increased its stake in shares of CorVel by 55.3% in the third quarter. Federated Hermes Inc. now owns 340 shares of the business services provider’s stock worth $47,000 after buying an additional 121 shares during the period. Finally, Point72 Hong Kong Ltd increased its position in CorVel by 327.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 325 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 249 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of CorVel in a research report on Thursday, August 17th. They set a “buy” rating on the stock.

Insider Activity

In other news, Chairman V Gordon Clemons sold 1,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the chairman now owns 369,534 shares in the company, valued at approximately $73,906,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Maxim Shishin sold 2,346 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $224.68, for a total value of $527,099.28. Following the transaction, the insider now owns 600 shares in the company, valued at approximately $134,808. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman V Gordon Clemons sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the transaction, the chairman now owns 369,534 shares in the company, valued at approximately $73,906,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,546 shares of company stock worth $5,511,867. Corporate insiders own 48.71% of the company’s stock.

CorVel Trading Up 0.3 %

Shares of CorVel stock opened at $216.99 on Wednesday. The company’s fifty day simple moving average is $207.82 and its two-hundred day simple moving average is $199.09. The company has a market cap of $3.73 billion, a P/E ratio of 54.66 and a beta of 1.04. CorVel Co. has a 12-month low of $135.81 and a 12-month high of $228.94.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.14 earnings per share (EPS) for the quarter. The business had revenue of $190.25 million for the quarter. CorVel had a net margin of 9.49% and a return on equity of 34.66%.

About CorVel

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.