Captrust Financial Advisors Buys Shares of 664 CorVel Co. (NASDAQ:CRVL)

Captrust Financial Advisors purchased a new stake in CorVel Co. (NASDAQ:CRVL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 664 shares of the business services provider’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of CorVel by 1.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock valued at $489,631,000 after acquiring an additional 21,673 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of CorVel by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock valued at $28,190,000 after acquiring an additional 6,061 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CorVel by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider’s stock valued at $18,719,000 after acquiring an additional 1,479 shares during the last quarter. Raymond James & Associates increased its stake in shares of CorVel by 3.6% in the 3rd quarter. Raymond James & Associates now owns 60,358 shares of the business services provider’s stock valued at $19,730,000 after acquiring an additional 2,110 shares during the last quarter. Finally, Algert Global LLC increased its stake in CorVel by 5.8% during the 2nd quarter. Algert Global LLC now owns 32,455 shares of the business services provider’s stock worth $8,252,000 after purchasing an additional 1,765 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

CorVel Stock Performance

NASDAQ CRVL opened at $352.00 on Monday. The business has a 50 day simple moving average of $336.33 and a 200 day simple moving average of $304.35. CorVel Co. has a 52-week low of $223.89 and a 52-week high of $381.73. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 74.73 and a beta of 1.14.

Insider Buying and Selling

In other news, EVP Mark E. Bertels sold 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $357.35, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now directly owns 860 shares of the company’s stock, valued at $307,321. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 47.57% of the stock is owned by company insiders.

CorVel Company 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.