Sawgrass Asset Management LLC Sells 48 Shares of CorVel Co. (NASDAQ:CRVL)

Sawgrass Asset Management LLC reduced its stake in CorVel Co. (NASDAQ:CRVL) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 931 shares of the business services provider’s stock after selling 48 shares during the period. Sawgrass Asset Management LLC’s holdings in CorVel were worth $237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 48 shares during the last quarter. Jump Financial LLC increased its holdings in CorVel by 1.9% in the 4th quarter. Jump Financial LLC now owns 3,058 shares of the business services provider’s stock valued at $756,000 after acquiring an additional 56 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in CorVel by 1.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 7,929 shares of the business services provider’s stock valued at $2,085,000 after acquiring an additional 97 shares during the last quarter. Edgestream Partners L.P. increased its holdings in CorVel by 1.3% in the 1st quarter. Edgestream Partners L.P. now owns 7,932 shares of the business services provider’s stock valued at $2,086,000 after acquiring an additional 102 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of CorVel by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 1,766 shares of the business services provider’s stock worth $464,000 after buying an additional 120 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a report on Tuesday.

CorVel Price Performance

Shares of CorVel stock traded down $1.08 during trading hours on Friday, reaching $315.73. The company’s stock had a trading volume of 34,818 shares, compared to its average volume of 37,487. The firm has a 50 day moving average price of $274.51 and a 200-day moving average price of $256.68. CorVel Co. has a one year low of $187.92 and a one year high of $321.46. The stock has a market cap of $5.42 billion, a P/E ratio of 71.76 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The firm had revenue of $211.72 million for the quarter. CorVel had a net margin of 9.55% and a return on equity of 33.26%.

Insider Activity at CorVel

In related news, Chairman V Gordon Clemons sold 2,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the transaction, the chairman now directly owns 266,584 shares in the company, valued at approximately $73,843,768. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman V Gordon Clemons sold 2,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $277.00, for a total transaction of $554,000.00. Following the transaction, the chairman now directly owns 266,584 shares in the company, valued at approximately $73,843,768. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark E. Bertels sold 200 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $231.14, for a total transaction of $46,228.00. Following the completion of the sale, the executive vice president now directly owns 858 shares of the company’s stock, valued at $198,318.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,131 shares of company stock worth $20,442,395. Insiders own 47.57% of the company’s stock.

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.