CorVel Co. (NASDAQ:CRVL) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its position in CorVel Co. (NASDAQ:CRVL) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,391 shares of the business services provider’s stock after selling 203 shares during the quarter. NewEdge Wealth LLC owned about 0.06% of CorVel worth $2,569,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in CorVel by 77.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,876 shares of the business services provider’s stock valued at $2,689,000 after purchasing an additional 4,764 shares during the last quarter. Stifel Financial Corp raised its stake in CorVel by 36.3% in the 3rd quarter. Stifel Financial Corp now owns 23,982 shares of the business services provider’s stock valued at $4,716,000 after purchasing an additional 6,385 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in CorVel by 17.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,426 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 208 shares during the last quarter. Victory Capital Management Inc. raised its stake in CorVel by 9.2% in the 3rd quarter. Victory Capital Management Inc. now owns 52,452 shares of the business services provider’s stock valued at $10,315,000 after purchasing an additional 4,428 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of CorVel by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 71,317 shares of the business services provider’s stock worth $14,024,000 after acquiring an additional 2,230 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Price Performance

Shares of CorVel stock opened at $236.58 on Friday. The business has a 50-day moving average of $245.40 and a 200 day moving average of $227.88. CorVel Co. has a 12 month low of $187.92 and a 12 month high of $265.14. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 54.76 and a beta of 1.07.

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

Analysts Set New Price Targets

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

Insider Activity at CorVel

In related news, VP Jennifer Yoss sold 1,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $239.41, for a total transaction of $359,115.00. Following the completion of the transaction, the vice president now directly owns 512 shares in the company, valued at approximately $122,577.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman V Gordon Clemons sold 1,000 shares of CorVel stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $264.00, for a total value of $264,000.00. Following the completion of the transaction, the chairman now owns 310,534 shares in the company, valued at approximately $81,980,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Yoss sold 1,500 shares of CorVel stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $239.41, for a total value of $359,115.00. Following the completion of the transaction, the vice president now owns 512 shares of the company’s stock, valued at approximately $122,577.92. The disclosure for this sale can be found here. Insiders sold 16,043 shares of company stock worth $3,960,007 in the last three months. 48.71% of the stock is owned by company insiders.

CorVel Company 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.