Ethic Inc. Buys Shares of 1,934 CorVel Corp. $CRVL

Ethic Inc. bought a new position in CorVel Corp. (NASDAQ:CRVL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,934 shares of the business services provider’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in shares of CorVel in the first quarter valued at approximately $25,000. von Borstel & Associates Inc. acquired a new position in CorVel during the 1st quarter valued at $28,000. Blue Trust Inc. raised its stake in CorVel by 235.4% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 386 shares during the last quarter. Allworth Financial LP boosted its holdings in CorVel by 4,000.0% in the 1st quarter. Allworth Financial LP now owns 574 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 560 shares during the period. Finally, GAMMA Investing LLC grew its position in CorVel by 58.6% in the 1st quarter. GAMMA Investing LLC now owns 685 shares of the business services provider’s stock worth $77,000 after purchasing an additional 253 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Stock Up 0.5%

CorVel stock opened at $73.95 on Friday. The business’s 50-day simple moving average is $79.47 and its 200 day simple moving average is $94.64. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 38.12 and a beta of 0.95. CorVel Corp. has a 12-month low of $70.47 and a 12-month high of $128.61.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, August 5th. The business services provider reported $0.52 EPS for the quarter. The firm had revenue of $234.71 million during the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Analysts Set New Price Targets

CRVL has been the subject of a number of research reports. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Insider Activity

In related news, insider Maxim Shishin sold 12,000 shares of the 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 transaction, 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 SEC, which can be accessed through this hyperlink. Also, CFO Brandon O’brien sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were 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 of the company’s stock, valued at approximately $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 44.56% of the stock is owned by corporate insiders.

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.