Edgestream Partners L.P. Has $751,000 Stock Position in CorVel Co. (NASDAQ:CRVL)

Edgestream Partners L.P. reduced its position in CorVel Co. (NASDAQ:CRVL) by 62.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,954 shares of the business services provider’s stock after selling 4,978 shares during the period. Edgestream Partners L.P.’s holdings in CorVel were worth $751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake 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 valued at $25,000 after buying an additional 48 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of CorVel by 474.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after purchasing an additional 147 shares during the last quarter. AXS Investments LLC bought a new position in shares of CorVel during the 4th quarter valued at $189,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of CorVel in the 4th quarter valued at $264,000. Finally, O Shaughnessy Asset Management LLC boosted its holdings in CorVel by 20.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock worth $274,000 after purchasing an additional 177 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Stock Performance

Shares of CRVL stock opened at $317.30 on Friday. The stock’s 50 day simple moving average is $305.42 and its 200 day simple moving average is $268.78. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $325.00. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 72.11 and a beta of 1.08.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The business had revenue of $211.72 million during the quarter. CorVel had a net margin of 9.55% and a return on equity of 32.25%.

Insiders Place Their Bets

In other news, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the transaction, the chief financial officer now directly owns 6,502 shares in the company, valued at $2,047,999.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 6,502 shares of the company’s stock, valued at $2,047,999.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Yoss sold 1,214 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $300.88, for a total transaction of $365,268.32. Following the transaction, the vice president now directly owns 680 shares in the company, valued at approximately $204,598.40. The disclosure for this sale can be found here. Insiders sold a total of 72,431 shares of company stock valued at $19,961,847 in the last quarter. Insiders own 47.57% of the company’s stock.

Analyst Ratings Changes

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

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.