Goldman Sachs Group Inc. trimmed its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 49.3% in the second quarter, HoldingsChannel reports. The firm owned 15,012 shares of the business services provider’s stock after selling 14,594 shares during the period. Goldman Sachs Group Inc.’s holdings in CorVel were worth $1,064,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC increased its holdings in CorVel by 206.0% during the 2nd quarter. CWM LLC now owns 358 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 241 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in CorVel during the 2nd quarter valued at $43,000. PNC Financial Services Group Inc. increased its holdings in CorVel by 28.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 764 shares of the business services provider’s stock valued at $54,000 after purchasing an additional 167 shares in the last quarter. Advisor Group Holdings Inc. acquired a new stake in CorVel during the 1st quarter valued at $76,000. Finally, Ensign Peak Advisors Inc acquired a new stake in CorVel during the 1st quarter valued at $109,000. 46.69% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on CRVL shares. TheStreet raised CorVel from a “c+” rating to a “b” rating in a research note on Thursday, June 25th. BidaskClub cut CorVel from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 22nd.

In other CorVel news, Chairman V Gordon Clemons sold 1,000 shares of CorVel stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $85.73, for a total transaction of $85,730.00. Following the transaction, the chairman now directly owns 910,646 shares in the company, valued at $78,069,681.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Corstar Holdings Inc sold 469 shares of CorVel stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $82.07, for a total value of $38,490.83. Following the transaction, the insider now owns 6,721,189 shares in the company, valued at $551,607,981.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,198 shares of company stock valued at $8,659,872. 50.38% of the stock is owned by insiders.

Shares of CorVel stock opened at $83.12 on Monday. CorVel Co. has a 12 month low of $44.67 and a 12 month high of $96.45. The business has a fifty day simple moving average of $83.25 and a 200 day simple moving average of $68.12. The stock has a market cap of $1.49 billion, a PE ratio of 36.30 and a beta of 0.89.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a return on equity of 21.62% and a net margin of 7.39%. The business had revenue of $129.60 million during the quarter.

CorVel Profile

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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Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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