CorVel Corp. $CRVL Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP cut its stake in CorVel Corp. (NASDAQ:CRVL) by 58.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,307 shares of the business services provider’s stock after selling 41,179 shares during the period. Engineers Gate Manager LP’s holdings in CorVel were worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in CorVel by 68.3% during the second quarter. IFP Advisors Inc now owns 973 shares of the business services provider’s stock worth $61,000 after buying an additional 395 shares during the last quarter. Allworth Financial LP grew its holdings in CorVel by 91.7% in the 2nd quarter. Allworth Financial LP now owns 2,220 shares of the business services provider’s stock valued at $139,000 after buying an additional 1,062 shares in the last quarter. Nykredit A S acquired a new stake in shares of CorVel in the 2nd quarter worth $80,000. Corient Private Wealth LP increased its stake in shares of CorVel by 43.4% in the 2nd quarter. Corient Private Wealth LP now owns 50,913 shares of the business services provider’s stock worth $3,183,000 after acquiring an additional 15,414 shares during the last quarter. Finally, Amundi purchased a new position in shares of CorVel during the 2nd quarter worth $386,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRVL shares. Weiss Ratings raised shares of CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, September 1st. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Insiders Place Their Bets

In related news, Director R. Jessup sold 4,023 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.07, for a total value of $281,891.61. Following the sale, the director directly owned 111,798 shares in the company, valued at approximately $7,833,685.86. The trade was a 3.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Yoss sold 2,100 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.92, for a total transaction of $148,932.00. Following the completion of the transaction, the vice president directly owned 2,173 shares in the company, valued at $154,109.16. The trade was a 49.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,947 shares of company stock valued at $630,420. Company insiders own 39.72% of the company’s stock.

CorVel Stock Performance

CRVL stock opened at $71.65 on Wednesday. CorVel Corp. has a one year low of $44.83 and a one year high of $83.92. The firm has a market cap of $3.65 billion, a PE ratio of 31.84 and a beta of 0.97. The firm’s 50 day moving average price is $65.01 and its 200-day moving average price is $60.02.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share for the quarter. The company had revenue of $259.93 million during the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.

CorVel Profile

CorVel Corporation is a provider of workers’ compensation and liability claims management services. The company supports employers, insurance carriers, government entities and other organizations with technology-enabled solutions designed to manage claims, control costs and coordinate medical care.

Its services include third-party claims administration, medical bill review, utilization review, case management, pharmacy benefit management, provider-network services and claims-related analytics.