Creative Planning Increases Stake in CorVel Co. (NASDAQ:CRVL)

Creative Planning grew its stake in shares of CorVel Co. (NASDAQ:CRVL) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,707 shares of the business services provider’s stock after purchasing an additional 111 shares during the period. Creative Planning’s holdings in CorVel were worth $434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position 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 buying an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of CorVel by 474.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after buying an additional 147 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in CorVel in the 2nd quarter valued at $233,000. O Shaughnessy Asset Management LLC increased its stake in CorVel by 20.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 177 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in shares of CorVel during the 2nd quarter worth about $318,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CorVel

In other CorVel news, EVP Mark E. Bertels sold 300 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $299.80, for a total transaction of $89,940.00. Following the transaction, the executive vice president now owns 858 shares of the company’s stock, valued at approximately $257,228.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark E. Bertels sold 300 shares of CorVel stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $299.80, for a total value of $89,940.00. Following the transaction, the executive vice president now owns 858 shares of the company’s stock, valued at approximately $257,228.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael G. Combs sold 2,473 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $300.99, for a total transaction of $744,348.27. Following the completion of the transaction, the chief executive officer now directly owns 16,823 shares of the company’s stock, valued at $5,063,554.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,893 shares of company stock worth $6,003,958 in the last ninety days. 47.57% of the stock is owned by insiders.

CorVel Trading Down 0.9 %

Shares of CRVL stock opened at $317.51 on Wednesday. The firm has a fifty day simple moving average of $312.66 and a 200-day simple moving average of $277.18. The company has a market capitalization of $5.45 billion, a PE ratio of 72.16 and a beta of 1.08. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $329.23.

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

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a 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.