Bank of New York Mellon Corp Sells 10,521 Shares of CorVel Corp. (NASDAQ:CRVL)

Bank of New York Mellon Corp lessened its position in shares of CorVel Corp. (NASDAQ:CRVL) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,926 shares of the business services provider’s stock after selling 10,521 shares during the period. Bank of New York Mellon Corp owned about 0.34% of CorVel worth $19,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRVL. LGT Financial Advisors LLC raised its holdings 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 valued at $28,000 after purchasing an additional 170 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in CorVel during the 1st quarter worth about $28,000. Bessemer Group Inc. grew its holdings in shares of CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 254 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of CorVel by 300.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 360 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in CorVel by 154.9% during the fourth quarter. Federated Hermes Inc. now owns 492 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 299 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director R Judd Jessup sold 687 shares of CorVel stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $111.25, for a total transaction of $76,428.75. Following the completion of the sale, the director owned 128,832 shares of the company’s stock, valued at approximately $14,332,560. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $108.09, for a total transaction of $259,416.00. Following the completion of the transaction, the insider owned 7,050 shares in the company, valued at approximately $762,034.50. This trade represents a 25.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,079 shares of company stock worth $1,446,023 in the last quarter. Company insiders own 44.56% of the company’s stock.

CorVel Price Performance

CorVel stock opened at $93.43 on Friday. The company’s 50-day moving average is $105.88 and its 200-day moving average is $109.79. The firm has a market capitalization of $4.81 billion, a PE ratio of 50.87 and a beta of 0.98. CorVel Corp. has a fifty-two week low of $93.15 and a fifty-two week high of $128.61.

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

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a research note 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.