Thrivent Financial for Lutherans Increases Stock Position in CorVel Corp. $CRVL

Thrivent Financial for Lutherans raised its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 187.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 400,003 shares of the business services provider’s stock after purchasing an additional 261,049 shares during the quarter. Thrivent Financial for Lutherans owned 0.78% of CorVel worth $41,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC lifted its holdings in shares of CorVel by 5.0% during the 1st quarter. LPL Financial LLC now owns 11,351 shares of the business services provider’s stock worth $1,271,000 after acquiring an additional 544 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in CorVel in the first quarter valued at $522,000. Nuveen LLC purchased a new stake in CorVel during the first quarter valued at about $8,533,000. Russell Investments Group Ltd. lifted its stake in CorVel by 44.7% during the first quarter. Russell Investments Group Ltd. now owns 74,730 shares of the business services provider’s stock worth $8,368,000 after purchasing an additional 23,095 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in CorVel by 4.1% during the first quarter. American Century Companies Inc. now owns 14,400 shares of the business services provider’s stock worth $1,612,000 after purchasing an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In other CorVel news, Director R Judd Jessup sold 7,076 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $76.94, for a total value of $544,427.44. Following the transaction, the director owned 115,045 shares in the company, valued at approximately $8,851,562.30. The trade was a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark E. Bertels sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total transaction of $86,820.00. Following the transaction, the executive vice president directly owned 2,594 shares of the company’s stock, valued at approximately $187,675.90. This trade represents a 31.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 11,733 shares of company stock valued at $894,686 over the last quarter. 44.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

CorVel Price Performance

Shares of CRVL stock opened at $70.81 on Tuesday. The business has a 50-day moving average of $73.07 and a 200 day moving average of $85.79. CorVel Corp. has a 1-year low of $66.49 and a 1-year high of $128.61. The stock has a market capitalization of $3.63 billion, a PE ratio of 34.88 and a beta of 1.09.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 earnings per share for the quarter. CorVel had a return on equity of 31.72% and a net margin of 11.28%.The firm had revenue of $239.64 million during the quarter.

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.