NorthCrest Asset Manangement LLC Takes Position in CorVel Co. (NASDAQ:CRVL)

NorthCrest Asset Manangement LLC purchased a new stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,745 shares of the business services provider's stock, valued at approximately $897,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mayfair Advisory Group LLC acquired a new position in shares of CorVel during the third quarter worth $222,000. Ballentine Partners LLC purchased a new position in CorVel during the third quarter worth about $255,000. Whittier Trust Co. of Nevada Inc. purchased a new position in CorVel during the third quarter worth about $102,000. Raymond James & Associates raised its holdings in CorVel by 3.6% during the third quarter. Raymond James & Associates now owns 60,358 shares of the business services provider's stock worth $19,730,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Blue Trust Inc. grew 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 worth $30,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

CorVel Price Performance

CorVel stock traded down $2.30 during midday trading on Monday, hitting $301.71. 28,121 shares of the company were exchanged, compared to its average volume of 36,410. The company's fifty day moving average price is $313.50 and its 200-day moving average price is $280.88. The company has a market cap of $5.18 billion, a PE ratio of 69.09 and a beta of 1.08. CorVel Co. has a fifty-two week low of $187.92 and a fifty-two week high of $329.23.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Mark E. Bertels sold 300 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 858 shares of the company's stock, valued at approximately $257,228.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brandon O'brien sold 500 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $300.08, for a total transaction of $150,040.00. Following the completion of the sale, the chief financial officer now owns 7,502 shares in the company, valued at $2,251,200.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark E. Bertels sold 300 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $299.80, for a total value of $89,940.00. Following the completion of the sale, the executive vice president now owns 858 shares of the company's stock, valued at $257,228.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,893 shares of company stock worth $6,003,958 over the last 90 days. 47.57% of the stock is currently owned by company insiders.

CorVel Company Profile

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.