CorVel Co. (NASDAQ:CRVL) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its stake in CorVel Co. (NASDAQ:CRVL) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 881 shares of the business services provider’s stock after selling 50 shares during the quarter. Sawgrass Asset Management LLC’s holdings in CorVel were worth $288,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after acquiring an additional 48 shares during the last quarter. Blue Trust Inc. lifted its stake in CorVel by 435.3% during the third quarter. Blue Trust Inc. now owns 91 shares of the business services provider’s stock worth $30,000 after purchasing an additional 74 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of CorVel during the third quarter worth $102,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of CorVel by 130.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 411 shares of the business services provider’s stock valued at $105,000 after buying an additional 233 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of CorVel in the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Stock Performance

Shares of CRVL stock opened at $344.74 on Friday. CorVel Co. has a fifty-two week low of $203.90 and a fifty-two week high of $367.84. The company has a 50 day moving average price of $318.73 and a 200 day moving average price of $290.07. The stock has a market capitalization of $5.91 billion, a P/E ratio of 73.19 and a beta of 1.10.

Insider Buying and Selling at CorVel

In related news, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the completion of the transaction, the chief financial officer now directly owns 6,502 shares in the company, valued at approximately $2,047,999.96. This trade represents a 13.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R Judd Jessup sold 2,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $311.60, for a total value of $779,000.00. Following the sale, the director now owns 40,777 shares in the company, valued at approximately $12,706,113.20. This trade represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. 47.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CorVel from a “buy” rating to a “hold” rating in a report on Saturday, August 31st.

CorVel Profile

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.