Crossmark Global Holdings Inc. Buys New Holdings in CorVel Co. (NASDAQ:CRVL)

Crossmark Global Holdings Inc. purchased a new position in shares of CorVel Co. (NASDAQ:CRVL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 912 shares of the business services provider’s stock, valued at approximately $298,000.

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

Insiders Place Their Bets

In related news, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total transaction of $314,980.00. Following the sale, the chief financial officer now owns 6,502 shares of the company’s stock, valued at $2,047,999.96. This represents a 13.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Judd Jessup sold 2,500 shares of CorVel stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total value of $779,000.00. Following the completion of the transaction, the director now directly owns 40,777 shares of the company’s stock, valued at $12,706,113.20. This represents a 5.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 47.57% of the company’s stock.

CorVel Trading Down 0.6 %

NASDAQ:CRVL opened at $344.74 on Monday. The stock has a 50 day simple moving average of $318.73 and a 200 day simple moving average of $290.42. The stock has a market cap of $5.91 billion, a P/E ratio of 73.19 and a beta of 1.10. CorVel Co. has a 1-year low of $203.90 and a 1-year high of $367.84.

Analyst Ratings Changes

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

About CorVel

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.