Inspire Investing LLC Sells 505 Shares of CorVel Corp. $CRVL

Inspire Investing LLC lowered its position in CorVel Corp. (NASDAQ:CRVL) by 14.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,065 shares of the business services provider’s stock after selling 505 shares during the period. Inspire Investing LLC’s holdings in CorVel were worth $343,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of CorVel by 2.7% in the first quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider’s stock valued at $16,085,000 after acquiring an additional 3,818 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of CorVel by 44.7% in the first quarter. Farther Finance Advisors LLC now owns 816 shares of the business services provider’s stock valued at $93,000 after acquiring an additional 252 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of CorVel by 58.6% in the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider’s stock valued at $77,000 after acquiring an additional 253 shares during the last quarter. KBC Group NV raised its stake in shares of CorVel by 35.1% in the first quarter. KBC Group NV now owns 1,564 shares of the business services provider’s stock valued at $175,000 after acquiring an additional 406 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of CorVel by 3.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,345 shares of the business services provider’s stock valued at $1,606,000 after acquiring an additional 461 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In other CorVel news, insider Maxim Shishin sold 12,000 shares of CorVel stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the sale, the insider owned 7,050 shares of the company’s stock, valued at approximately $628,578. The trade was a 62.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brandon O’brien sold 1,764 shares of CorVel stock in a transaction on Monday, September 8th. The stock was sold at an average price of $91.54, for a total transaction of $161,476.56. Following the sale, the chief financial officer directly owned 8,948 shares of the company’s stock, valued at $819,099.92. This represents a 16.47% decrease in their position. The disclosure for this sale can be found here. 44.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th.

CorVel Price Performance

CRVL stock opened at $81.59 on Wednesday. The company has a 50 day moving average price of $89.89 and a 200 day moving average price of $102.49. CorVel Corp. has a fifty-two week low of $81.16 and a fifty-two week high of $128.61. The stock has a market capitalization of $4.19 billion, a PE ratio of 42.06 and a beta of 0.96.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, August 5th. The business services provider reported $0.52 EPS for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

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.