GAMMA Investing LLC Grows Stock Position in CorVel Co. (NASDAQ:CRVL)

GAMMA Investing LLC boosted its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 17,654.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,699 shares of the business services provider’s stock after purchasing an additional 76,267 shares during the period. GAMMA Investing LLC owned about 0.15% of CorVel worth $8,588,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRVL. LGT Financial Advisors LLC lifted its stake in CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after purchasing an additional 170 shares during the last quarter. Bessemer Group Inc. increased its holdings in CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after buying an additional 254 shares during the period. US Bancorp DE grew its holdings in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after purchasing an additional 266 shares during the last quarter. Federated Hermes Inc. grew its holdings in CorVel by 154.9% in the fourth quarter. Federated Hermes Inc. now owns 492 shares of the business services provider’s stock worth $55,000 after purchasing an additional 299 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the fourth quarter worth $37,000. 51.36% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director R Judd Jessup sold 687 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $111.25, for a total value of $76,428.75. Following the completion of the transaction, the director now directly owns 128,832 shares in the company, valued at approximately $14,332,560. This represents a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Michael sold 16,523 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the completion of the transaction, the director now owns 551,787 shares of the company’s stock, valued at $64,553,561.13. This trade represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,245 shares of company stock valued at $2,690,457. Insiders own 47.57% of the company’s stock.

CorVel Price Performance

NASDAQ:CRVL opened at $109.56 on Monday. The firm has a 50 day simple moving average of $112.07 and a 200-day simple moving average of $116.20. The firm has a market cap of $5.63 billion, a PE ratio of 64.45 and a beta of 1.02. CorVel Co. has a 1-year low of $76.53 and a 1-year high of $128.61.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%. The firm had revenue of $231.51 million during the quarter.

Analyst Ratings Changes

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

About CorVel

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.