State of New Jersey Common Pension Fund D Sells 1,769 Shares of CorVel Corp. $CRVL

State of New Jersey Common Pension Fund D trimmed its holdings in CorVel Corp. (NASDAQ:CRVL) by 9.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 16,436 shares of the business services provider’s stock after selling 1,769 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in CorVel were worth $1,689,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of CorVel in the first quarter worth approximately $25,000. Blue Trust Inc. grew its position in CorVel by 235.4% in the 2nd quarter. Blue Trust Inc. now owns 550 shares of the business services provider’s stock worth $57,000 after purchasing an additional 386 shares during the period. Allworth Financial LP grew its position in CorVel by 4,000.0% in the 1st quarter. Allworth Financial LP now owns 574 shares of the business services provider’s stock worth $64,000 after purchasing an additional 560 shares during the period. 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 period. Finally, KBC Group NV grew its position in CorVel by 35.1% in the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider’s stock worth $175,000 after purchasing an additional 406 shares during the period. 51.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRVL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorVel in a report on Tuesday, October 14th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

CorVel Price Performance

Shares of CRVL stock opened at $73.95 on Monday. CorVel Corp. has a 1 year low of $70.47 and a 1 year high of $128.61. The firm has a fifty day moving average price of $79.47 and a 200-day moving average price of $94.32. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 38.12 and a beta of 0.95.

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

Insider Buying and Selling

In other CorVel news, insider Maxim Shishin sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 directly owned 7,050 shares in the company, valued at $628,578. This represents a 62.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 8,948 shares of the company’s stock, valued at approximately $819,099.92. The trade was a 16.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 44.56% of the company’s stock.

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.