Illinois Municipal Retirement Fund Has $2.14 Million Position in CorVel Co. (NASDAQ:CRVL)

Illinois Municipal Retirement Fund lifted its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 5.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,136 shares of the business services provider’s stock after buying an additional 405 shares during the period. Illinois Municipal Retirement Fund’s holdings in CorVel were worth $2,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. increased its position in CorVel by 474.2% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after buying an additional 147 shares during the last quarter. Spire Wealth Management raised its stake in CorVel by 815.0% in the 1st quarter. Spire Wealth Management now owns 366 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 326 shares during the period. AXS Investments LLC acquired a new stake in CorVel during the 4th quarter valued at $189,000. Vanguard Personalized Indexing Management LLC bought a new position in CorVel during the fourth quarter worth $264,000. Finally, SkyOak Wealth LLC acquired a new position in shares of CorVel in the fourth quarter valued at $325,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th.

Insider Buying and Selling at CorVel

In related news, CFO Brandon O’brien sold 1,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the sale, the chief financial officer now owns 7,305 shares of the company’s stock, valued at $2,023,119.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brandon O’brien sold 1,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $276.95, for a total transaction of $276,950.00. Following the completion of the transaction, the chief financial officer now owns 7,305 shares of the company’s stock, valued at approximately $2,023,119.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman V Gordon Clemons sold 2,000 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $277.00, for a total value of $554,000.00. Following the sale, the chairman now owns 266,584 shares of the company’s stock, valued at $73,843,768. The disclosure for this sale can be found here. Insiders sold 16,849 shares of company stock valued at $4,357,751 in the last three months. Corporate insiders own 47.57% of the company’s stock.

CorVel Stock Up 1.7 %

Shares of CorVel stock traded up $4.41 on Friday, hitting $266.71. The stock had a trading volume of 63,985 shares, compared to its average volume of 37,595. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 60.62 and a beta of 1.08. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $281.41. The business’s 50 day moving average is $254.13 and its two-hundred day moving average is $245.88.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Wednesday, May 22nd. The business services provider reported $1.12 EPS for the quarter. CorVel had a net margin of 9.59% and a return on equity of 33.49%. The business had revenue of $207.23 million for the quarter.

CorVel Company 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.