Lyell Wealth Management LP Decreases Stock Position in CorVel Co. (NASDAQ:CRVL)

Lyell Wealth Management LP cut its stake in shares of CorVel Co. (NASDAQ:CRVL) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,960 shares of the business services provider’s stock after selling 865 shares during the quarter. Lyell Wealth Management LP’s holdings in CorVel were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Trexquant Investment LP increased its holdings in CorVel by 34.1% during the 3rd quarter. Trexquant Investment LP now owns 1,426 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 363 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of CorVel by 17.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,426 shares of the business services provider’s stock valued at $280,000 after buying an additional 208 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in CorVel by 14.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 1,485 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 190 shares in the last quarter. SkyOak Wealth LLC purchased a new position in CorVel during the 4th quarter valued at $325,000. Finally, Revisor Wealth Management LLC purchased a new position in shares of CorVel during the third quarter valued at about $366,000. 51.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman V Gordon Clemons sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $239.70, for a total value of $719,100.00. Following the sale, the chairman now owns 315,534 shares in the company, valued at approximately $75,633,499.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman V Gordon Clemons sold 3,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $239.70, for a total transaction of $719,100.00. Following the transaction, the chairman now directly owns 315,534 shares of the company’s stock, valued at $75,633,499.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael G. Combs sold 301 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $246.82, for a total value of $74,292.82. Following the transaction, the chief executive officer now directly owns 21,082 shares in the company, valued at $5,203,459.24. The disclosure for this sale can be found here. Insiders have sold 16,043 shares of company stock worth $3,960,007 in the last 90 days. Insiders own 48.71% of the company’s stock.

CorVel Trading Down 1.0 %

Shares of CRVL stock traded down $2.46 during midday trading on Thursday, reaching $237.21. 12,424 shares of the stock were exchanged, compared to its average volume of 34,757. The firm has a market cap of $4.06 billion, a PE ratio of 55.48 and a beta of 1.07. The company’s 50 day moving average is $244.75 and its two-hundred day moving average is $230.01. CorVel Co. has a 1 year low of $187.92 and a 1 year high of $265.14.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, January 30th. The business services provider reported $0.99 earnings per share for the quarter. The company had revenue of $202.30 million for the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.69%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a report on Saturday, March 16th.

CorVel Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.