Sanctuary Advisors LLC Invests $650,000 in CorVel Co. (NASDAQ:CRVL)

Sanctuary Advisors LLC purchased a new stake in CorVel Co. (NASDAQ:CRVL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,724 shares of the business services provider’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of CorVel by 98.0% during the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after purchasing an additional 48 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in CorVel by 474.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 147 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of CorVel during the 2nd quarter valued at $210,000. Dark Forest Capital Management LP acquired a new stake in shares of CorVel during the 2nd quarter worth $233,000. Finally, O Shaughnessy Asset Management LLC increased its position in shares of 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 during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at CorVel

In related news, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total transaction of $314,980.00. Following the sale, the chief financial officer now directly owns 6,502 shares of the company’s stock, valued at approximately $2,047,999.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director R Judd Jessup sold 2,500 shares of CorVel stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $311.60, for a total transaction of $779,000.00. Following the sale, the director now directly owns 40,777 shares of the company’s stock, valued at approximately $12,706,113.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total transaction of $314,980.00. Following the sale, the chief financial officer now owns 6,502 shares in the company, valued at approximately $2,047,999.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,893 shares of company stock valued at $6,003,958. 47.57% of the stock is currently owned by insiders.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $320.35 on Tuesday. CorVel Co. has a 1 year low of $187.92 and a 1 year high of $329.23. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 72.81 and a beta of 1.08. The company’s 50 day simple moving average is $312.22 and its 200 day simple moving average is $276.80.

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

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.