Fmr LLC Has $1.41 Million Stake in CorVel Co. (NASDAQ:CRVL)

FMR LLC boosted its holdings in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 193.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,306 shares of the business services provider's stock after purchasing an additional 2,837 shares during the quarter. FMR LLC's holdings in CorVel were worth $1,408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC boosted its position in shares of CorVel by 0.8% in the second quarter. SkyView Investment Advisors LLC now owns 4,284 shares of the business services provider's stock valued at $1,089,000 after acquiring an additional 34 shares during the period. Arizona State Retirement System raised its stake in CorVel by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 2,632 shares of the business services provider's stock valued at $669,000 after purchasing an additional 46 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CorVel by 2.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,143 shares of the business services provider's stock valued at $545,000 after purchasing an additional 46 shares during the period. First Trust Direct Indexing L.P. grew its position in CorVel by 5.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider's stock worth $293,000 after purchasing an additional 46 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of CorVel by 61.9% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the business services provider's stock worth $51,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

Insider Transactions at CorVel

In related news, EVP Mark E. Bertels sold 350 shares of CorVel stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $357.35, for a total transaction of $125,072.50. Following the completion of the transaction, the executive vice president now directly owns 860 shares of the company's stock, valued at $307,321. This trade represents a 28.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 47.57% of the stock is currently owned by insiders.

CorVel Trading Up 4.1 %

CRVL stock traded up $14.26 during midday trading on Monday, hitting $366.26. The stock had a trading volume of 48,838 shares, compared to its average volume of 36,844. The stock has a 50-day simple moving average of $336.33 and a 200 day simple moving average of $304.35. CorVel Co. has a 52 week low of $223.89 and a 52 week high of $381.73. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 74.73 and a beta of 1.14.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded 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.