CorVel Co. (NASDAQ:CRVL) Position Cut by Arizona State Retirement System

Arizona State Retirement System lowered its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,632 shares of the business services provider’s stock after selling 61 shares during the period. Arizona State Retirement System’s holdings in CorVel were worth $651,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRVL. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of CorVel by 3.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,976,764 shares of the business services provider’s stock valued at $376,139,000 after purchasing an additional 74,446 shares in the last quarter. Norges Bank acquired a new stake in shares of CorVel in the 4th quarter worth approximately $10,475,000. Morgan Stanley lifted its stake in shares of CorVel by 36.5% in the 3rd quarter. Morgan Stanley now owns 139,754 shares of the business services provider’s stock worth $27,483,000 after acquiring an additional 37,377 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of CorVel by 6.9% in the third quarter. Boston Trust Walden Corp now owns 278,027 shares of the business services provider’s stock valued at $54,674,000 after acquiring an additional 17,954 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of CorVel by 239.5% during the first quarter. Cubist Systematic Strategies LLC now owns 21,651 shares of the business services provider’s stock valued at $4,120,000 after acquiring an additional 15,273 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Activity

In other news, CEO Michael G. Combs sold 301 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $246.82, for a total transaction of $74,292.82. Following the sale, the chief executive officer now directly owns 21,082 shares of the company’s stock, valued at $5,203,459.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jean Macino sold 3,130 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $253.42, for a total value of $793,204.60. Following the completion of the sale, the director now owns 14,160 shares in the company, valued at approximately $3,588,427.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael G. Combs sold 301 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $246.82, for a total transaction of $74,292.82. Following the sale, the chief executive officer now directly owns 21,082 shares in the company, valued at $5,203,459.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,043 shares of company stock worth $3,960,007. Insiders own 48.71% of the company’s stock.

CorVel Trading Down 1.2 %

Shares of CorVel stock opened at $229.60 on Friday. CorVel Co. has a 52 week low of $187.92 and a 52 week high of $265.14. The stock has a market cap of $3.93 billion, a PE ratio of 53.15 and a beta of 1.07. The company’s 50-day moving average price is $245.33 and its two-hundred day moving average price is $228.69.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, January 30th. The business services provider reported $0.99 EPS for the quarter. The business had revenue of $202.30 million for the quarter. CorVel had a net margin of 9.69% and a return on equity of 34.66%.

Analyst Ratings Changes

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th.

CorVel Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.