CorVel Co. (CRVL) Stake Lowered by Victory Capital Management Inc.
Victory Capital Management Inc. lowered its holdings in CorVel Co. (NASDAQ:CRVL) by 31.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,744 shares of the business services provider’s stock after selling 2,579 shares during the period. Victory Capital Management Inc.’s holdings in CorVel were worth $375,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in CRVL. Bank of New York Mellon Corp lifted its position in CorVel by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 126,738 shares of the business services provider’s stock worth $7,636,000 after buying an additional 1,498 shares during the last quarter. Legal & General Group Plc lifted its position in CorVel by 3.8% in the third quarter. Legal & General Group Plc now owns 22,605 shares of the business services provider’s stock worth $1,358,000 after buying an additional 821 shares during the last quarter. Morgan Stanley lifted its position in CorVel by 11.1% in the third quarter. Morgan Stanley now owns 120,056 shares of the business services provider’s stock worth $7,233,000 after buying an additional 12,003 shares during the last quarter. Vanguard Group Inc. lifted its position in CorVel by 2.3% in the third quarter. Vanguard Group Inc. now owns 994,950 shares of the business services provider’s stock worth $59,945,000 after buying an additional 22,448 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in CorVel in the fourth quarter worth $25,000. 46.22% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub downgraded CorVel from a “buy” rating to a “hold” rating in a research report on Thursday, February 7th.
CorVel (NASDAQ:CRVL) last released its earnings results on Thursday, May 30th. The business services provider reported $0.63 earnings per share for the quarter. CorVel had a return on equity of 24.61% and a net margin of 7.84%. The business had revenue of $151.08 million during the quarter.
In other news, major shareholder Corstar Holdings Inc sold 11,480 shares of CorVel stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $74.34, for a total transaction of $853,423.20. Following the completion of the sale, the insider now directly owns 6,767,076 shares in the company, valued at $503,064,429.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 179,345 shares of company stock valued at $12,544,159. Corporate insiders own 51.40% of the company’s stock.
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CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.
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