State of Alaska Department of Revenue Acquires 1,126 Shares of CorVel Corp. $CRVL

State of Alaska Department of Revenue grew its holdings in CorVel Corp. (NASDAQ:CRVL) by 7.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,209 shares of the business services provider’s stock after acquiring an additional 1,126 shares during the quarter. State of Alaska Department of Revenue’s holdings in CorVel were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds 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 purchasing an additional 3,818 shares in 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 purchasing an additional 252 shares in 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 purchasing an additional 253 shares in 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 purchasing an additional 406 shares in 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 purchasing an additional 461 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRVL has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of CorVel in a research note on Saturday, September 27th. Wall Street Zen lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Insider Buying and Selling at CorVel

In other news, insider Maxim Shishin sold 12,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the sale, the insider owned 7,050 shares in the company, valued at approximately $628,578. This represents a 62.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brandon O’brien sold 1,764 shares of the stock in a transaction 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 sale, the chief financial officer owned 8,948 shares in the company, valued at $819,099.92. The trade was 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 corporate insiders.

CorVel Stock Performance

Shares of CRVL stock opened at $73.83 on Friday. The stock’s fifty day moving average is $85.41 and its 200-day moving average is $99.98. The stock has a market capitalization of $3.79 billion, a PE ratio of 38.06 and a beta of 0.95. CorVel Corp. has a 52 week low of $72.15 and a 52 week high of $128.61.

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

CorVel 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.