Corient Private Wealth LLC Raises Holdings in CorVel Co. (NASDAQ:CRVL)

Corient Private Wealth LLC lifted its position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 292.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,904 shares of the business services provider's stock after purchasing an additional 6,636 shares during the quarter. Corient Private Wealth LLC's holdings in CorVel were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRVL. FMR LLC lifted its holdings in shares of CorVel by 193.1% during the third quarter. FMR LLC now owns 4,306 shares of the business services provider's stock valued at $1,408,000 after purchasing an additional 2,837 shares during the last quarter. State Street Corp increased its position in CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider's stock valued at $117,703,000 after buying an additional 2,959 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in CorVel by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider's stock worth $1,422,000 after acquiring an additional 67 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in CorVel by 152.8% in the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock worth $12,137,000 after acquiring an additional 65,940 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of CorVel in the third quarter worth $213,000. 51.36% of the stock is owned by hedge funds and other institutional investors.

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CorVel Stock Up 0.5 %

Shares of NASDAQ CRVL traded up $0.61 during midday trading on Monday, hitting $111.97. The stock had a trading volume of 119,363 shares, compared to its average volume of 111,733. The business's 50 day moving average is $112.32 and its 200-day moving average is $114.69. CorVel Co. has a 52 week low of $76.20 and a 52 week high of $128.61. The company has a market cap of $5.75 billion, a P/E ratio of 65.87 and a beta of 1.06.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its 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%.

Insider Buying and Selling

In related news, Director Alan Hoops sold 10,200 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the sale, the director now owns 118,213 shares in the company, valued at approximately $13,758,811.07. This trade represents a 7.94 % 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, Director Jeffrey J. Michael sold 10,477 shares of CorVel stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the sale, the director now directly owns 568,310 shares of the company's stock, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,200 shares of company stock worth $3,824,115. 47.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

About CorVel

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.