6,000 Shares in CorVel Co. (NASDAQ:CRVL) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,000 shares of the business services provider's stock, valued at approximately $668,000.

Other hedge funds have also recently made changes to their positions in the company. SkyView Investment Advisors LLC grew its stake in CorVel by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 67 shares during the period. Fifth Third Bancorp boosted its holdings in shares of CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after buying an additional 101 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of CorVel by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider's stock worth $931,000 after buying an additional 124 shares during the period. Franklin Resources Inc. increased its stake in shares of CorVel by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock valued at $614,000 after acquiring an additional 173 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of CorVel by 225.4% during the 4th 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. 51.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares of the company's stock, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total value of $182,089.88. Following the completion of the transaction, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,200 shares of company stock worth $3,824,115. Insiders own 47.57% of the company's stock.

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CorVel Trading Down 0.5 %

CRVL stock traded down $0.61 during trading on Friday, reaching $110.51. 146,153 shares of the stock were exchanged, compared to its average volume of 111,777. The firm's 50 day moving average is $112.27 and its 200 day moving average is $114.86. The firm has a market cap of $5.68 billion, a P/E ratio of 65.01 and a beta of 0.94. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th.

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.