Stanley Laman Group Ltd. Invests $603,000 in CorVel Co. (CRVL)
Stanley Laman Group Ltd. acquired a new stake in shares of CorVel Co. (NASDAQ:CRVL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 9,771 shares of the business services provider’s stock, valued at approximately $603,000. Stanley Laman Group Ltd. owned about 0.05% of CorVel at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of CorVel during the 4th quarter valued at about $25,000. Oppenheimer Asset Management Inc. bought a new position in shares of CorVel during the 4th quarter valued at about $178,000. Oregon Public Employees Retirement Fund bought a new position in shares of CorVel during the 4th quarter valued at about $216,000. First Quadrant L P CA increased its position in shares of CorVel by 26.7% during the 4th quarter. First Quadrant L P CA now owns 4,179 shares of the business services provider’s stock valued at $258,000 after purchasing an additional 881 shares during the last quarter. Finally, Cigna Investments Inc. New increased its position in shares of CorVel by 24.1% during the 4th quarter. Cigna Investments Inc. New now owns 4,530 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 881 shares during the last quarter. Hedge funds and other institutional investors own 46.76% of the company’s stock.
Shares of CorVel stock opened at $67.07 on Tuesday. CorVel Co. has a 12 month low of $46.45 and a 12 month high of $70.73. The stock has a market cap of $1.25 billion, a PE ratio of 28.59 and a beta of 0.64.
In related news, Chairman V Gordon Clemons sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $65.20, for a total transaction of $143,440.00. Following the transaction, the chairman now directly owns 1,881,990 shares in the company, valued at approximately $122,705,748. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Corstar Holdings Inc sold 27,513 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $65.70, for a total value of $1,807,604.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,946 shares of company stock worth $10,194,497. 51.40% of the stock is owned by corporate insiders.
Separately, BidaskClub lowered CorVel from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 11th.
CorVel Company 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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