Assenagon Asset Management S.A. Trims Stake in CorVel Co. (NASDAQ:CRVL)

Assenagon Asset Management S.A. reduced its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 59.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,452 shares of the business services provider's stock after selling 69,424 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.27% of CorVel worth $15,185,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of CorVel during the third quarter valued at about $102,000. Raymond James & Associates raised its stake in shares of CorVel by 3.6% during the 3rd quarter. Raymond James & Associates now owns 60,358 shares of the business services provider's stock worth $19,730,000 after acquiring an additional 2,110 shares in the last quarter. Blue Trust Inc. lifted its position in CorVel by 435.3% during the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider's stock valued at $30,000 after acquiring an additional 74 shares during the last quarter. Ellsworth Advisors LLC boosted its stake in CorVel by 2.7% in the third quarter. Ellsworth Advisors LLC now owns 2,340 shares of the business services provider's stock valued at $765,000 after acquiring an additional 61 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in CorVel in the third quarter worth $208,000. Institutional investors own 51.36% of the company's stock.

Insider Activity

In related news, EVP Mark E. Bertels sold 300 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $299.80, for a total value of $89,940.00. Following the completion of the transaction, the executive vice president now owns 858 shares in the company, valued at $257,228.40. 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 related news, EVP Mark E. Bertels sold 300 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $299.80, for a total value of $89,940.00. Following the sale, the executive vice president now owns 858 shares in the company, valued at $257,228.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maxim Shishin sold 8,075 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $299.85, for a total transaction of $2,421,288.75. Following the transaction, the insider now directly owns 1,600 shares of the company's stock, valued at $479,760. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,893 shares of company stock valued at $6,003,958 over the last ninety days. 47.57% of the stock is currently owned by insiders.

CorVel Price Performance

NASDAQ CRVL traded down $0.09 during trading on Friday, hitting $304.01. The company's stock had a trading volume of 14,344 shares, compared to its average volume of 35,264. CorVel Co. has a fifty-two week low of $187.92 and a fifty-two week high of $329.23. The company has a market cap of $5.22 billion, a PE ratio of 69.09 and a beta of 1.08. The business's 50 day simple moving average is $313.50 and its 200-day simple moving average is $280.54.

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

Analyst Ratings Changes

Separately, StockNews.com cut CorVel from a "buy" rating to a "hold" rating in a research report 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.