Royce & Associates LP Cuts Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Royce & Associates LP reduced its stake in CorVel Co. (NASDAQ:CRVL) by 12.3% during the third quarter, HoldingsChannel reports. The firm owned 1,196 shares of the business services provider’s stock after selling 167 shares during the period. Royce & Associates LP’s holdings in CorVel were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRVL. Janus Henderson Group PLC increased its stake in CorVel by 997.8% in 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 acquiring an additional 42,696 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after buying an additional 34,155 shares during the last quarter. Quest Partners LLC boosted its stake in CorVel by 184,200.0% in the second quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock worth $469,000 after buying an additional 1,842 shares in the last quarter. Texas Permanent School Fund Corp grew its position in CorVel by 15.2% during the second quarter. Texas Permanent School Fund Corp now owns 9,137 shares of the business services provider’s stock valued at $2,323,000 after acquiring an additional 1,208 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of CorVel by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 5,139 shares of the business services provider’s stock worth $1,307,000 after acquiring an additional 204 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CorVel news, Director R Judd Jessup sold 2,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $311.60, for a total value of $779,000.00. Following the transaction, the director now owns 40,777 shares in the company, valued at approximately $12,706,113.20. The trade was a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

CorVel Trading Down 0.9 %

NASDAQ CRVL opened at $355.23 on Thursday. The stock has a 50-day moving average of $321.00 and a 200-day moving average of $292.40. CorVel Co. has a 1-year low of $203.90 and a 1-year high of $367.84. The firm has a market cap of $6.08 billion, a PE ratio of 75.42 and a beta of 1.10.

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.