Teacher Retirement System of Texas Raises Holdings in CorVel Corp. $CRVL

Teacher Retirement System of Texas lifted its position in shares of CorVel Corp. (NASDAQ:CRVL) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,312 shares of the business services provider’s stock after purchasing an additional 1,894 shares during the quarter. Teacher Retirement System of Texas owned 0.13% of CorVel worth $6,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRVL. Principal Financial Group Inc. increased its position in shares of CorVel by 2.7% in the first quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider’s stock valued at $16,085,000 after buying an additional 3,818 shares in the last quarter. GAMMA Investing LLC raised its position in shares of CorVel by 58.6% in the first quarter. GAMMA Investing LLC now owns 685 shares of the business services provider’s stock valued at $77,000 after buying an additional 253 shares during the last quarter. KBC Group NV lifted its stake in CorVel by 35.1% in the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider’s stock worth $175,000 after purchasing an additional 406 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in CorVel by 720.9% during the second quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock worth $10,533,000 after buying an additional 89,994 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of CorVel by 1.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 49,205 shares of the business services provider’s stock valued at $5,509,000 after acquiring an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In other CorVel 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 transaction of $1,069,920.00. Following the completion of the transaction, the insider owned 7,050 shares in the company, valued at approximately $628,578. This represents a 62.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brandon O’brien sold 1,764 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was 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 owned 8,948 shares of the company’s stock, valued at $819,099.92. This trade represents a 16.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 44.56% of the company’s stock.

CorVel Stock Up 0.2%

Shares of NASDAQ CRVL opened at $73.61 on Friday. The stock has a market cap of $3.78 billion, a PE ratio of 37.94 and a beta of 0.95. The business has a 50-day moving average price of $79.84 and a 200 day moving average price of $94.94. CorVel Corp. has a 52-week low of $70.47 and a 52-week high of $128.61.

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

Analyst Ratings Changes

Several brokerages recently weighed in on CRVL. Weiss Ratings reiterated a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.