Nationwide Fund Advisors Sells 10,166 Shares of CorVel Co. (CRVL)
Nationwide Fund Advisors cut its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 68.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,747 shares of the business services provider’s stock after selling 10,166 shares during the quarter. Nationwide Fund Advisors’ holdings in CorVel were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRVL. Municipal Employees Retirement System of Michigan raised its position in CorVel by 3.6% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 2,310 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 80 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in CorVel by 57.8% during the second quarter. BNP Paribas Arbitrage SA now owns 3,061 shares of the business services provider’s stock worth $145,000 after buying an additional 1,121 shares during the period. Susquehanna International Group LLP acquired a new position in CorVel during the second quarter worth approximately $201,000. Victory Capital Management Inc. increased its position in CorVel by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,248 shares of the business services provider’s stock worth $202,000 after buying an additional 638 shares during the period. Finally, Stevens Capital Management LP grew its stake in shares of CorVel by 3.9% in the 2nd quarter. Stevens Capital Management LP now owns 5,292 shares of the business services provider’s stock valued at $251,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 43.66% of the company’s stock.
In other CorVel news, insider Maxim Shishin sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $57.26, for a total transaction of $57,260.00. Following the completion of the sale, the insider now owns 1,000 shares of the company’s stock, valued at $57,260. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 50.96% of the company’s stock.
CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, October 31st. The business services provider reported $0.44 earnings per share for the quarter. CorVel had a return on equity of 22.68% and a net margin of 6.01%. The company had revenue of $136.43 million during the quarter.
Separately, BidaskClub downgraded CorVel from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 29th.
CorVel Company Profile
CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.
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