Bank of New York Mellon Corp Has $18.19 Million Stock Holdings in CorVel Corp. $CRVL

Bank of New York Mellon Corp boosted its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 176,927 shares of the business services provider’s stock after buying an additional 4,001 shares during the period. Bank of New York Mellon Corp owned approximately 0.34% of CorVel worth $18,185,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of CorVel by 1.6% during the first quarter. Envestnet Asset Management Inc. now owns 49,205 shares of the business services provider’s stock worth $5,509,000 after acquiring an additional 758 shares during the period. Xponance Inc. raised its holdings in shares of CorVel by 4.9% in the first quarter. Xponance Inc. now owns 2,008 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 94 shares during the last quarter. Gallacher Capital Management LLC bought a new stake in shares of CorVel in the first quarter worth $224,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CorVel in the first quarter worth $936,000. Finally, Royce & Associates LP boosted its holdings in CorVel by 84.2% during the first quarter. Royce & Associates LP now owns 6,521 shares of the business services provider’s stock worth $730,000 after purchasing an additional 2,981 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. Wall Street Zen downgraded shares of CorVel from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

CorVel Stock Performance

CRVL opened at $74.17 on Monday. The stock has a fifty day moving average of $76.87 and a 200-day moving average of $91.76. The company has a market capitalization of $3.80 billion, a P/E ratio of 38.23 and a beta of 0.98. CorVel Corp. has a fifty-two week low of $70.47 and a fifty-two week high of $128.61.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%. The firm had revenue of $239.64 million during the quarter.

Insider Buying and Selling

In other CorVel news, Director R Judd Jessup sold 7,076 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the transaction, the director owned 115,045 shares in the company, valued at $8,851,562.30. This trade represents a 5.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction 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 sale, 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 have sold 21,050 shares of company stock valued at $1,791,841 over the last 90 days. 44.56% of the stock is owned by corporate 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.