SG Americas Securities LLC Sells 1,067 Shares of CorVel Co. (NASDAQ:CRVL)

SG Americas Securities LLC lessened its stake in shares of CorVel Co. (NASDAQ:CRVL) by 31.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,341 shares of the business services provider’s stock after selling 1,067 shares during the period. SG Americas Securities LLC’s holdings in CorVel were worth $595,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC grew its stake in shares of CorVel by 9.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 1,940 shares of the business services provider’s stock worth $493,000 after acquiring an additional 174 shares during the last quarter. GAMMA Investing LLC increased its stake in CorVel by 98.0% during the 2nd 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 in the last quarter. SkyView Investment Advisors LLC purchased a new position in CorVel in the first quarter worth about $1,118,000. B. Riley Wealth Advisors Inc. bought a new position in shares of CorVel in the first quarter worth approximately $375,000. Finally, Janus Henderson Group PLC grew its holdings in shares of CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after buying an additional 42,696 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $316.73 on Tuesday. CorVel Co. has a 1 year low of $187.92 and a 1 year high of $321.46. The company has a market cap of $5.44 billion, a P/E ratio of 71.98 and a beta of 1.08. The stock’s fifty day moving average price is $276.19 and its 200-day moving average price is $257.47.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share (EPS) for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%. The firm had revenue of $211.72 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of CorVel from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th.

Insider Buying and Selling

In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now directly owns 7,305 shares in the company, valued at approximately $2,023,119.75. The sale was disclosed in a document filed with the SEC, which is available through this link. In other CorVel news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now directly owns 7,305 shares in the company, valued at approximately $2,023,119.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman V Gordon Clemons sold 2,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $277.00, for a total transaction of $554,000.00. Following the completion of the transaction, the chairman now owns 266,584 shares in the company, valued at approximately $73,843,768. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,131 shares of company stock worth $20,442,395. 47.57% of the stock is owned by insiders.

CorVel 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.