Swiss National Bank Sells 2,600 Shares of CorVel Co. (NASDAQ:CRVL)

Posted by Defense World Staff on Sep 2nd, 2023

Swiss National Bank decreased its position in shares of CorVel Co. (NASDAQ:CRVL – Free Report) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,500 shares of the business services provider’s stock after selling 2,600 shares during the quarter. Swiss National Bank owned about 0.12% of CorVel worth $3,901,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd purchased a new position in shares of CorVel during the fourth quarter valued at approximately $26,000. Quadrant Capital Group LLC boosted its position in shares of CorVel by 170.8% during the fourth quarter. Quadrant Capital Group LLC now owns 195 shares of the business services provider’s stock valued at $28,000 after buying an additional 123 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of CorVel during the second quarter valued at approximately $34,000. Tower Research Capital LLC TRC boosted its position in shares of CorVel by 432.7% during the first quarter. Tower Research Capital LLC TRC now owns 277 shares of the business services provider’s stock valued at $53,000 after buying an additional 225 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its position in shares of CorVel by 327.6% during the second quarter. Point72 Hong Kong Ltd now owns 325 shares of the business services provider’s stock valued at $48,000 after buying an additional 249 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on CorVel in a research report on Thursday, August 17th. They set a “buy” rating on the stock.

Get Our Latest Stock Analysis on CRVL

CorVel Stock Down 4.3 %

Shares of NASDAQ:CRVL opened at $207.17 on Friday. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 52.18 and a beta of 1.04. CorVel Co. has a 12-month low of $135.81 and a 12-month high of $228.94. The business’s 50 day moving average is $208.72 and its 200 day moving average is $199.52.

CorVel (NASDAQ:CRVL – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The business services provider reported $1.14 earnings per share for the quarter. CorVel had a return on equity of 34.66% and a net margin of 9.49%. The business had revenue of $190.25 million for the quarter.

Insiders Place Their Bets

In other CorVel news, insider Maxim Shishin sold 2,800 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $191.10, for a total value of $535,080.00. Following the transaction, the insider now owns 600 shares of the company’s stock, valued at $114,660. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CorVel news, insider Maxim Shishin sold 2,800 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $191.10, for a total value of $535,080.00. Following the transaction, the insider now owns 600 shares of the company’s stock, valued at $114,660. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael G. Combs sold 4,130 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $222.82, for a total value of $920,246.60. Following the completion of the transaction, the chief executive officer now directly owns 13,829 shares in the company, valued at approximately $3,081,377.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,567 shares of company stock valued at $5,952,487. Insiders own 48.71% of the company’s stock.

CorVel Company Profile

(Free Report)

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.