Cambiar Investors LLC cut its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,747 shares of the business services provider’s stock after selling 1,393 shares during the quarter. Cambiar Investors LLC owned approximately 0.07% of CorVel worth $1,041,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of CRVL. Marshall Wace LLP bought a new stake in shares of CorVel in the 1st quarter valued at about $441,000. FMR LLC raised its holdings in shares of CorVel by 92.6% in the 1st quarter. FMR LLC now owns 53,900 shares of the business services provider’s stock valued at $3,516,000 after purchasing an additional 25,918 shares during the period. WINTON GROUP Ltd bought a new stake in shares of CorVel in the 2nd quarter valued at about $852,000. Crossmark Global Holdings Inc. bought a new stake in shares of CorVel in the 2nd quarter valued at about $227,000. Finally, Raymond James Trust N.A. bought a new stake in shares of CorVel in the 2nd quarter valued at about $224,000. 47.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:CRVL traded up $0.69 on Friday, reaching $77.71. 65,200 shares of the company’s stock were exchanged, compared to its average volume of 71,946. The company has a fifty day moving average of $78.14 and a 200-day moving average of $80.62. CorVel Co. has a twelve month low of $59.16 and a twelve month high of $93.96. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 30.32 and a beta of 0.67.
In related news, Director Alan Hoops sold 571 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $86.12, for a total transaction of $49,174.52. Following the completion of the transaction, the director now owns 50,255 shares of the company’s stock, valued at $4,327,960.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman V Gordon Clemons sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $88.15, for a total transaction of $176,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 66,621 shares of company stock worth $5,375,836. Insiders own 50.70% of the company’s stock.
A number of research analysts recently commented on the stock. ValuEngine lowered shares of CorVel from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. BidaskClub lowered shares of CorVel from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd.
CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.
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