Sawgrass Asset Management LLC Decreases Holdings in CorVel Co. (NASDAQ:CRVL)

Sawgrass Asset Management LLC lowered its holdings in CorVel Co. (NASDAQ:CRVL) by 5.4% during the third quarter, HoldingsChannel reports. The fund owned 881 shares of the business services provider’s stock after selling 50 shares during the period. Sawgrass Asset Management LLC’s holdings in CorVel were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRVL. Janus Henderson Group PLC increased its stake in CorVel by 997.8% in the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after purchasing an additional 42,696 shares during the last quarter. Sei Investments Co. grew its position in shares of CorVel by 65.8% in the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after buying an additional 8,338 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in CorVel by 41.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after acquiring an additional 34,155 shares in the last quarter. Quest Partners LLC lifted its position in CorVel by 184,200.0% in the second quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock valued at $469,000 after acquiring an additional 1,842 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in CorVel by 15.2% in the second quarter. Texas Permanent School Fund Corp now owns 9,137 shares of the business services provider’s stock valued at $2,323,000 after acquiring an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Transactions at CorVel

In other CorVel news, Director R Judd Jessup sold 2,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total transaction of $779,000.00. Following the transaction, the director now directly owns 40,777 shares of the company’s stock, valued at approximately $12,706,113.20. This trade represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction 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 completion of the transaction, the chief financial officer now owns 6,502 shares in the company, valued at approximately $2,047,999.96. This represents a 13.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 47.57% of the company’s stock.

CorVel Stock Down 0.6 %

CRVL opened at $344.74 on Friday. CorVel Co. has a 52 week low of $203.90 and a 52 week high of $367.84. The business’s 50 day moving average is $318.73 and its two-hundred day moving average is $290.07. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 73.19 and a beta of 1.10.

Wall Street Analyst Weigh In

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

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.