First Trust Advisors LP Has $1.66 Million Holdings in CorVel Co. (CRVL)

First Trust Advisors LP trimmed its stake in CorVel Co. (NASDAQ:CRVL) by 17.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,688 shares of the business services provider’s stock after selling 6,440 shares during the quarter. First Trust Advisors LP owned approximately 0.16% of CorVel worth $1,657,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in CorVel in the second quarter valued at approximately $121,000. Barclays PLC grew its stake in CorVel by 60.8% in the first quarter. Barclays PLC now owns 6,231 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 2,355 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of CorVel during the 2nd quarter worth approximately $437,000. Allianz Asset Management GmbH boosted its stake in shares of CorVel by 87.9% during the 1st quarter. Allianz Asset Management GmbH now owns 10,437 shares of the business services provider’s stock worth $528,000 after acquiring an additional 4,883 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of CorVel by 145.5% during the 1st quarter. GSA Capital Partners LLP now owns 13,494 shares of the business services provider’s stock worth $682,000 after acquiring an additional 7,997 shares during the period. Hedge funds and other institutional investors own 44.78% of the company’s stock.

Shares of NASDAQ CRVL traded down $1.08 during midday trading on Friday, hitting $56.64. 86,156 shares of the company’s stock were exchanged, compared to its average volume of 33,083. The company has a market capitalization of $1.14 billion, a P/E ratio of 29.68 and a beta of 0.61. CorVel Co. has a 12 month low of $46.45 and a 12 month high of $61.20.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter. The business had revenue of $150.40 million during the quarter. CorVel had a return on equity of 23.42% and a net margin of 6.78%.

In other CorVel news, Director Jeffrey J. Michael sold 6,000 shares of CorVel stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $55.72, for a total value of $334,320.00. Following the completion of the transaction, the director now directly owns 206,985 shares of the company’s stock, valued at approximately $11,533,204.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman V Gordon Clemons sold 5,250 shares of the business’s stock in a transaction on Friday, July 13th. The stock was sold at an average price of $56.18, for a total value of $294,945.00. The disclosure for this sale can be found here. Insiders sold a total of 110,109 shares of company stock valued at $6,480,257 over the last ninety days. Insiders own 51.40% of the company’s stock.

Separately, BidaskClub upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd.

CorVel Company Profile

CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.

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Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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