Exchange Traded Concepts LLC Sells 6,498 Shares of CorVel Co. (NASDAQ:CRVL)

Exchange Traded Concepts LLC lowered its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 97.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168 shares of the business services provider's stock after selling 6,498 shares during the quarter. Exchange Traded Concepts LLC's holdings in CorVel were worth $55,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider's stock valued at $25,000 after purchasing an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of CorVel by 474.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider's stock valued at $47,000 after purchasing an additional 147 shares during the last quarter. Aristides Capital LLC bought a new position in shares of CorVel in the 2nd quarter valued at about $210,000. Dark Forest Capital Management LP bought a new position in shares of CorVel in the 2nd quarter valued at about $233,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of CorVel by 20.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider's stock valued at $274,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

CorVel Trading Down 0.1 %

Shares of NASDAQ:CRVL traded down $0.23 during mid-day trading on Thursday, reaching $304.10. The stock had a trading volume of 24,232 shares, compared to its average volume of 36,558. The firm has a market cap of $5.22 billion, a PE ratio of 69.11 and a beta of 1.08. The firm has a 50 day simple moving average of $313.99 and a two-hundred day simple moving average of $279.66. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $329.23.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The business had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 32.25%.

Insider Activity at CorVel

In related news, Director Alan Hoops sold 1,700 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $300.00, for a total value of $510,000.00. Following the sale, the director now directly owns 9,396 shares in the company, valued at $2,818,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other CorVel news, insider Maxim Shishin sold 8,075 shares of CorVel stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $299.85, for a total value of $2,421,288.75. Following the transaction, the insider now owns 1,600 shares of the company's stock, valued at approximately $479,760. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alan Hoops sold 1,700 shares of CorVel stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $300.00, for a total transaction of $510,000.00. Following the completion of the transaction, the director now directly owns 9,396 shares in the company, valued at approximately $2,818,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,893 shares of company stock worth $6,003,958 in the last ninety days. Company insiders own 47.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

About CorVel

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.