Klingman & Associates LLC Buys New Shares in CorVel Corp. $CRVL

Klingman & Associates LLC bought a new stake in CorVel Corp. (NASDAQ:CRVL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,793 shares of the business services provider’s stock, valued at approximately $287,000.

A number of other institutional investors have also recently bought and sold shares of CRVL. Meeder Asset Management Inc. purchased a new stake in CorVel in the first quarter valued at approximately $25,000. von Borstel & Associates Inc. purchased a new stake in CorVel in the first quarter valued at approximately $28,000. Blue Trust Inc. grew its stake in CorVel by 235.4% during the second quarter. Blue Trust Inc. now owns 550 shares of the business services provider’s stock worth $57,000 after buying an additional 386 shares during the period. Allworth Financial LP grew its stake in CorVel by 4,000.0% during the first quarter. Allworth Financial LP now owns 574 shares of the business services provider’s stock worth $64,000 after buying an additional 560 shares during the period. Finally, GAMMA Investing LLC grew its stake in CorVel by 58.6% during the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider’s stock worth $77,000 after buying an additional 253 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research note on Sunday, October 12th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

CorVel Trading Up 3.4%

Shares of CRVL stock opened at $76.37 on Wednesday. The company has a market capitalization of $3.92 billion, a PE ratio of 39.37 and a beta of 0.95. The firm has a fifty day simple moving average of $81.87 and a 200-day simple moving average of $96.77. CorVel Corp. has a twelve month low of $70.47 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share for the quarter. The business had revenue of $234.71 million during the quarter. CorVel had a net margin of 10.98% and a return on equity of 32.31%.

Insider Buying and Selling at CorVel

In other news, insider Maxim Shishin sold 12,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total value of $1,069,920.00. Following the completion of the transaction, the insider directly owned 7,050 shares in the company, valued at approximately $628,578. This represents a 62.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brandon O’brien sold 1,764 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $91.54, for a total transaction of $161,476.56. Following the completion of the sale, the chief financial officer directly owned 8,948 shares in the company, valued at $819,099.92. This represents a 16.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 44.56% of the stock is currently owned by corporate insiders.

About CorVel

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.