Piedmont Investment Advisors LLC bought a new position in shares of CorVel Co. (NASDAQ:CRVL) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,235 shares of the business services provider’s stock, valued at approximately $121,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CRVL. MetLife Investment Advisors LLC purchased a new stake in CorVel during the 4th quarter worth approximately $282,000. Barclays PLC increased its stake in CorVel by 60.8% during the 1st quarter. Barclays PLC now owns 6,231 shares of the business services provider’s stock worth $315,000 after buying an additional 2,355 shares during the period. Eqis Capital Management Inc. purchased a new stake in CorVel during the 2nd quarter worth approximately $437,000. Allianz Asset Management GmbH increased its stake in CorVel by 87.9% during the 1st quarter. Allianz Asset Management GmbH now owns 10,437 shares of the business services provider’s stock worth $528,000 after buying an additional 4,883 shares during the period. Finally, GSA Capital Partners LLP increased its stake in CorVel by 145.5% during the 1st quarter. GSA Capital Partners LLP now owns 13,494 shares of the business services provider’s stock worth $682,000 after buying an additional 7,997 shares during the period. 43.87% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CRVL opened at $57.10 on Tuesday. CorVel Co. has a fifty-two week low of $46.45 and a fifty-two week high of $61.20. The company has a market cap of $1.06 billion, a P/E ratio of 27.76 and a beta of 0.66.
In other CorVel news, Director Jeffrey J. Michael sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $55.72, for a total transaction of $334,320.00. Following the completion of the transaction, the director now owns 206,985 shares in the company, valued at approximately $11,533,204.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman V Gordon Clemons sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $50.51, for a total transaction of $252,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 118,765 shares of company stock valued at $6,283,481 in the last quarter. 51.40% of the stock is currently owned by company insiders.
Separately, BidaskClub raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd.
CorVel Company Profile
CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.
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