Petros Family Wealth LLC Invests $250,000 in CorVel Co. (NASDAQ:CRVL)

Petros Family Wealth LLC bought a new position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,244 shares of the business services provider's stock, valued at approximately $250,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CRVL. Bessemer Group Inc. increased its stake in CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp increased its position in shares of CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after buying an additional 101 shares in the last quarter. Jones Financial Companies Lllp bought a new position in CorVel during the fourth quarter worth about $37,000. US Bancorp DE grew its stake in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after acquiring an additional 266 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of CorVel by 175.2% during the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock worth $48,000 after purchasing an additional 275 shares during the period. Institutional investors own 51.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CorVel from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th.

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CorVel Stock Up 2.0 %

Shares of NASDAQ:CRVL traded up $2.28 during midday trading on Tuesday, reaching $118.66. 135,835 shares of the company were exchanged, compared to its average volume of 113,684. The firm has a market cap of $6.09 billion, a PE ratio of 69.80 and a beta of 0.94. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock has a fifty day simple moving average of $111.36 and a two-hundred day simple moving average of $115.16.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insiders Place Their Bets

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the transaction, the director now owns 314,000 shares of the company's stock, valued at $38,772,720. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the sale, the director now directly owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. The trade was a 2.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,723 shares of company stock valued at $5,757,140 in the last quarter. 47.57% of the stock is currently owned by 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.