Kayne Anderson Rudnick Investment Management LLC Grows Stock Position in CorVel Co. (NASDAQ:CRVL)

Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 193.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,714,351 shares of the business services provider's stock after acquiring an additional 3,768,440 shares during the quarter. CorVel comprises approximately 1.5% of Kayne Anderson Rudnick Investment Management LLC's portfolio, making the stock its 16th biggest position. Kayne Anderson Rudnick Investment Management LLC owned approximately 11.13% of CorVel worth $635,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Bessemer Group Inc. raised its stake in shares of CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp lifted its stake in CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after acquiring an additional 101 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of CorVel during the 4th quarter valued at about $37,000. US Bancorp DE grew its stake in shares of CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock worth $43,000 after acquiring an additional 266 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of CorVel by 175.2% during the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

Insider Transactions at CorVel

In related news, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. This trade represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction on 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 completion of the sale, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,723 shares of company stock worth $5,757,140 in the last 90 days. 47.57% of the stock is currently owned by insiders.

CorVel Price Performance

Shares of CRVL traded down $3.47 during trading hours on Thursday, hitting $111.17. The stock had a trading volume of 478,143 shares, compared to its average volume of 116,737. The firm has a market capitalization of $5.71 billion, a PE ratio of 65.39 and a beta of 0.94. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61. The stock has a fifty day moving average price of $110.88 and a 200 day moving average price of $115.45.

CorVel (NASDAQ:CRVL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Analyst Upgrades and Downgrades

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

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.