Klingman & Associates LLC Purchases New Stake in CorVel Corp. $CRVL

Klingman & Associates LLC purchased a new stake in CorVel Corp. (NASDAQ:CRVL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,793 shares of the business services provider’s stock, valued at approximately $287,000.

Several other institutional investors have also recently added to or reduced their stakes in CRVL. Meeder Asset Management Inc. acquired a new stake in shares of CorVel during the first quarter worth $25,000. von Borstel & Associates Inc. acquired a new stake in shares of CorVel during the first quarter worth $28,000. Blue Trust Inc. raised its holdings in shares of CorVel by 235.4% during the second 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 raised its holdings in shares of CorVel by 4,000.0% during the first 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. Finally, GAMMA Investing LLC raised its holdings in shares of CorVel by 58.6% during the first 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. 51.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRVL has been the topic of a number of research reports. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of CorVel in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

CorVel Stock Up 3.4%

CRVL stock opened at $76.37 on Wednesday. CorVel Corp. has a fifty-two week low of $70.47 and a fifty-two week high of $128.61. The firm’s 50-day simple moving average is $81.87 and its 200 day simple moving average is $96.77. The stock has a market cap of $3.92 billion, a PE ratio of 39.37 and a beta of 0.95.

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

Insider Transactions at CorVel

In related news, insider Maxim Shishin sold 12,000 shares of the stock in a transaction dated 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 owned 7,050 shares in the company, valued at $628,578. This represents a 62.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brandon O’brien sold 1,764 shares of the stock in a transaction dated Monday, September 8th. The shares were 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 $819,099.92. This represents a 16.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 44.56% of the company’s stock.

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.