Allspring Global Investments Holdings LLC Decreases Holdings in CorVel Corp. (NASDAQ:CRVL)

Allspring Global Investments Holdings LLC reduced its stake in CorVel Corp. (NASDAQ:CRVL) by 6.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,101 shares of the business services provider’s stock after selling 146 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CorVel were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CRVL. LGT Financial Advisors LLC boosted its position in shares of 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 buying an additional 170 shares during the period. Bessemer Group Inc. boosted its holdings in CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after acquiring an additional 254 shares during the period. Jones Financial Companies Lllp purchased a new position in CorVel in the 4th quarter worth approximately $37,000. US Bancorp DE boosted its holdings in CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after acquiring an additional 266 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in CorVel by 300.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider’s stock worth $53,000 after acquiring an additional 360 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

CorVel Trading Down 1.9%

CRVL opened at $97.78 on Friday. The company has a fifty day simple moving average of $107.41 and a 200 day simple moving average of $111.98. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 53.24 and a beta of 0.98. CorVel Corp. has a twelve month low of $87.47 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. The business had revenue of $231.51 million during the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%.

Insider Buying and Selling at CorVel

In other CorVel news, VP Jennifer Yoss sold 1,050 shares of the firm’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total transaction of $116,959.50. Following the completion of the transaction, the vice president directly owned 2,088 shares of the company’s stock, valued at $232,582.32. This trade represents a 33.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark E. Bertels sold 900 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.34, for a total transaction of $102,006.00. Following the transaction, the executive vice president directly owned 2,586 shares of the company’s stock, valued at approximately $293,097.24. This represents a 25.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,079 shares of company stock worth $1,446,023. 44.56% of the stock is currently owned by insiders.

CorVel Company 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.