Strs Ohio Purchases Shares of 9,200 CorVel Corp. $CRVL

Strs Ohio purchased a new stake in shares of CorVel Corp. (NASDAQ:CRVL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,200 shares of the business services provider’s stock, valued at approximately $1,030,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in CorVel by 2.7% during 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 period. Algert Global LLC grew its stake in shares of CorVel by 5.6% in the first quarter. Algert Global LLC now owns 103,079 shares of the business services provider’s stock valued at $11,542,000 after buying an additional 5,430 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of CorVel by 5.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,570 shares of the business services provider’s stock valued at $11,037,000 after buying an additional 4,964 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of CorVel by 234.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider’s stock valued at $10,415,000 after buying an additional 65,620 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of CorVel by 27.4% in the first quarter. Public Sector Pension Investment Board now owns 86,307 shares of the business services provider’s stock valued at $9,664,000 after buying an additional 18,576 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

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

CorVel Stock Up 1.7%

Shares of NASDAQ CRVL opened at $82.97 on Friday. CorVel Corp. has a fifty-two week low of $81.16 and a fifty-two week high of $128.61. The business has a 50 day moving average price of $89.19 and a two-hundred day moving average price of $102.18. The firm has a market cap of $4.26 billion, a PE ratio of 42.77 and a beta of 0.96.

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

Insider Activity at CorVel

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

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.