Colonial River Investments LLC Purchases New Position in CorVel Co. (NASDAQ:CRVL)

Colonial River Investments LLC bought a new position in shares of CorVel Co. (NASDAQ:CRVL) during the 3rd quarter, Holdings Channel.com reports. The firm bought 782 shares of the business services provider’s stock, valued at approximately $256,000.

Several other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of CorVel by 2.7% in the 1st quarter. BNP Paribas Financial Markets now owns 8,308 shares of the business services provider’s stock valued at $2,185,000 after acquiring an additional 221 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of CorVel by 1.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 7,929 shares of the business services provider’s stock worth $2,085,000 after buying an additional 97 shares during the period. SG Americas Securities LLC acquired a new position in CorVel in the 1st quarter valued at $896,000. Illinois Municipal Retirement Fund boosted its stake in CorVel by 5.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 8,136 shares of the business services provider’s stock valued at $2,139,000 after purchasing an additional 405 shares during the period. Finally, Sei Investments Co. increased its position in CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after buying an additional 8,338 shares during the period. 51.36% of the stock is currently owned by institutional investors.

Insider Transactions at CorVel

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 directly owns 40,777 shares in the company, valued at $12,706,113.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Brandon O’brien sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the completion of the sale, the chief financial officer now directly owns 6,502 shares in the company, valued at approximately $2,047,999.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director R Judd Jessup sold 2,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $311.60, for a total transaction of $779,000.00. Following the sale, the director now directly owns 40,777 shares in the company, valued at approximately $12,706,113.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 47.57% of the stock is owned by insiders.

CorVel Price Performance

Shares of CRVL stock opened at $358.99 on Monday. The stock’s fifty day simple moving average is $314.51 and its 200 day simple moving average is $286.43. CorVel Co. has a one year low of $194.97 and a one year high of $364.04. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 76.22 and a beta of 1.10.

Wall Street Analyst Weigh In

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

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.