Envestnet Asset Management Inc. Buys 32,386 Shares of CorVel Co. (NASDAQ:CRVL)

Envestnet Asset Management Inc. increased its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 201.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,447 shares of the business services provider's stock after buying an additional 32,386 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of CorVel worth $5,390,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp lifted 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 worth $36,000 after purchasing an additional 101 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of CorVel in the 4th quarter worth about $37,000. US Bancorp DE increased its stake in shares of CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock worth $43,000 after acquiring an additional 266 shares in the last quarter. GAMMA Investing LLC lifted its position in CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after acquiring an additional 275 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in CorVel by 300.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock worth $53,000 after acquiring an additional 360 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

Insider Activity at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now owns 314,000 shares of the company's stock, valued at $38,772,720. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brandon O'brien sold 1,523 shares of the business'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 transaction of $182,089.88. Following the transaction, the chief financial officer now directly owns 17,142 shares of the company's stock, valued at $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,723 shares of company stock valued at $5,757,140. 47.57% of the stock is owned by corporate insiders.

CorVel Stock Down 1.6 %

Shares of NASDAQ:CRVL traded down $1.83 on Friday, hitting $109.34. 94,413 shares of the company traded hands, compared to its average volume of 116,788. The company has a market cap of $5.62 billion, a PE ratio of 64.43 and a beta of 0.94. The stock has a 50 day simple moving average of $110.76 and a 200-day simple moving average of $115.51. CorVel Co. has a 52 week low of $76.53 and a 52 week 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 (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.

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.