CorVel Co. (NASDAQ:CRVL) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of CorVel Co. (NASDAQ:CRVL) by 59.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 46,452 shares of the business services provider’s stock after selling 69,424 shares during the quarter. Assenagon Asset Management S.A.’s holdings in CorVel were worth $15,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of CorVel by 435.3% in the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 74 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after acquiring an additional 48 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of CorVel in the 3rd quarter worth $102,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of CorVel by 130.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 411 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 233 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of CorVel in the third quarter valued at about $208,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

CorVel Stock Performance

Shares of CorVel stock opened at $304.01 on Friday. CorVel Co. has a fifty-two week low of $187.92 and a fifty-two week high of $329.23. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 67.41 and a beta of 1.08. The stock has a 50 day moving average of $313.50 and a 200 day moving average of $280.26.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The business had revenue of $211.72 million during the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

Insiders Place Their Bets

In other news, Director R Judd Jessup sold 2,131 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $295.21, for a total value of $629,092.51. Following the sale, the director now directly owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director R Judd Jessup sold 2,131 shares of CorVel stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $295.21, for a total value of $629,092.51. Following the completion of the sale, the director now directly owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael G. Combs sold 2,473 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $300.99, for a total value of $744,348.27. Following the transaction, the chief executive officer now directly owns 16,823 shares in the company, valued at approximately $5,063,554.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,893 shares of company stock valued at $6,003,958 over the last 90 days. 47.57% of the stock is owned by company insiders.

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.