Public Sector Pension Investment Board Buys 1,397 Shares of CorVel Co. (NASDAQ:CRVL)

Public Sector Pension Investment Board raised its position in shares of CorVel Co. (NASDAQ:CRVL) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,967 shares of the business services provider’s stock after acquiring an additional 1,397 shares during the period. Public Sector Pension Investment Board owned approximately 0.12% of CorVel worth $5,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of CorVel by 98.0% during the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after purchasing an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of CorVel by 474.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 147 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in CorVel by 20.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock worth $274,000 after buying an additional 177 shares during the period. Farther Finance Advisors LLC acquired a new position in shares of CorVel in the second quarter worth approximately $318,000. Finally, Cynosure Group LLC acquired a new position in shares of CorVel in the 1st quarter worth approximately $348,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Activity

In related news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the sale, the chief financial officer now owns 6,502 shares in the company, valued at $2,047,999.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total transaction of $314,980.00. Following the transaction, the chief financial officer now directly owns 6,502 shares in the company, valued at $2,047,999.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Corstar Holdings Inc sold 23,429 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $264.90, for a total transaction of $6,206,342.10. Following the completion of the sale, the insider now owns 6,309,958 shares of the company’s stock, valued at approximately $1,671,507,874.20. The disclosure for this sale can be found here. Insiders have sold 72,431 shares of company stock worth $19,961,847 over the last 90 days. 47.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

CorVel Price Performance

Shares of CorVel stock opened at $320.80 on Thursday. The business has a 50-day simple moving average of $307.79 and a 200 day simple moving average of $270.60. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 72.91 and a beta of 1.08. CorVel Co. has a one year low of $187.92 and a one year high of $325.00.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 32.25%.

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.