Connor Clark & Lunn Investment Management Ltd. Purchases 15,742 Shares of CorVel Corp. $CRVL

Connor Clark & Lunn Investment Management Ltd. grew its position in CorVel Corp. (NASDAQ:CRVL) by 337.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,404 shares of the business services provider’s stock after acquiring an additional 15,742 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in CorVel were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRVL. Envestnet Asset Management Inc. increased its position in CorVel by 1.6% in the first quarter. Envestnet Asset Management Inc. now owns 49,205 shares of the business services provider’s stock worth $5,509,000 after purchasing an additional 758 shares during the last quarter. Xponance Inc. grew its stake in shares of CorVel by 4.9% in the 1st quarter. Xponance Inc. now owns 2,008 shares of the business services provider’s stock worth $225,000 after buying an additional 94 shares in the last quarter. Gallacher Capital Management LLC purchased a new position in shares of CorVel in the 1st quarter worth $224,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of CorVel in the 1st quarter worth about $936,000. Finally, Royce & Associates LP raised its position in shares of CorVel by 84.2% during the 1st quarter. Royce & Associates LP now owns 6,521 shares of the business services provider’s stock valued at $730,000 after buying an additional 2,981 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRVL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. Wall Street Zen lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $91.54, for a total value of $161,476.56. Following the transaction, the chief financial officer owned 8,948 shares of the company’s stock, valued at $819,099.92. This represents a 16.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Maxim Shishin sold 12,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total value of $1,069,920.00. Following the completion of the sale, the insider owned 7,050 shares in the company, valued at approximately $628,578. The trade was a 62.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,050 shares of company stock worth $1,791,841 in the last quarter. 44.56% of the stock is owned by company insiders.

CorVel Trading Up 0.9%

Shares of NASDAQ:CRVL opened at $74.17 on Friday. CorVel Corp. has a 12 month low of $70.47 and a 12 month high of $128.61. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 38.23 and a beta of 0.98. The firm’s 50-day moving average is $76.87 and its 200 day moving average is $91.88.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, November 4th. The business services provider reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $239.64 million during the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

CorVel Company 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.