Intech Investment Management LLC boosted its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 136.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,196 shares of the business services provider's stock after buying an additional 11,639 shares during the quarter. Intech Investment Management LLC's holdings in CorVel were worth $2,247,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in CRVL. SkyView Investment Advisors LLC increased its holdings in CorVel by 1.6% in the 3rd 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 in the last quarter. Fifth Third Bancorp grew its holdings in shares of CorVel by 45.9% during the fourth 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 last quarter. Advisors Asset Management Inc. increased its stake in shares of CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider's stock valued at $67,000 after buying an additional 112 shares during the period. Sanctuary Advisors LLC raised its holdings in CorVel by 4.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider's stock valued at $931,000 after buying an additional 124 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in CorVel by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock worth $614,000 after buying an additional 173 shares during the period. 51.36% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of CorVel from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th.
Read Our Latest Report on CorVel
CorVel Price Performance
NASDAQ CRVL traded down $0.87 on Tuesday, reaching $110.10. The company had a trading volume of 81,921 shares, compared to its average volume of 106,519. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 64.77 and a beta of 1.06. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The business has a 50 day moving average of $112.12 and a two-hundred day moving average of $114.32.
CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly 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%.
Insider Buying and Selling at CorVel
In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at approximately $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 accessible through this link. Also, Director Jeffrey J. Michael sold 10,477 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $116.45, for a total value of $1,220,046.65. Following the completion of the transaction, the director now directly owns 568,310 shares in the company, valued at $66,179,699.50. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is currently owned by company insiders.
CorVel Company Profile
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Free Report)
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.
Further Reading
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