Geode Capital Management LLC Has $86.20 Million Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Geode Capital Management LLC increased its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 205.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 774,653 shares of the business services provider's stock after purchasing an additional 520,783 shares during the quarter. Geode Capital Management LLC owned about 1.52% of CorVel worth $86,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in CorVel by 193.1% during the 3rd 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 period. State Street Corp increased its stake in shares of CorVel by 0.8% in the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider's stock valued at $117,703,000 after acquiring an additional 2,959 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in CorVel by 1.6% during the 3rd 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 during the last quarter. Victory Capital Management Inc. grew its holdings in CorVel by 152.8% during the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock valued at $12,137,000 after purchasing an additional 65,940 shares during the period. Finally, Verition Fund Management LLC bought a new stake in CorVel in the third quarter valued at approximately $213,000. Institutional investors and hedge funds own 51.36% of the company's stock.

Remove Ads

CorVel Stock Down 0.9 %

CRVL traded down $1.03 during trading hours on Wednesday, hitting $117.64. 12,279 shares of the company's stock were exchanged, compared to its average volume of 113,312. The stock's 50-day moving average is $111.28 and its two-hundred day moving average is $115.19. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 69.20 and a beta of 0.94. CorVel Co. has a 1-year low of $76.20 and a 1-year 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%.

Insider Transactions at CorVel

In related news, Director Jeffrey J. Michael sold 16,523 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the transaction, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Hoops sold 10,200 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the sale, the director now owns 118,213 shares in the company, valued at $13,758,811.07. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,723 shares of company stock worth $5,757,140. Company insiders own 47.57% of the company's stock.

Analysts Set New Price Targets

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

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.