LPL Financial LLC Buys 6,992 Shares of CorVel Co. (NASDAQ:CRVL)

LPL Financial LLC raised its position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 183.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,807 shares of the business services provider's stock after buying an additional 6,992 shares during the quarter. LPL Financial LLC's holdings in CorVel were worth $1,202,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Barclays PLC lifted its position in shares of CorVel by 380.8% in the third quarter. Barclays PLC now owns 15,977 shares of the business services provider's stock worth $5,223,000 after purchasing an additional 12,654 shares in the last quarter. Sanctuary Advisors LLC lifted its position in CorVel by 4.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider's stock worth $931,000 after buying an additional 124 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of CorVel by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider's stock valued at $614,000 after acquiring an additional 173 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CorVel by 106.6% in the third quarter. JPMorgan Chase & Co. now owns 38,113 shares of the business services provider's stock worth $12,459,000 after acquiring an additional 19,667 shares during the last quarter. 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 worth $48,000 after acquiring an additional 275 shares in the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CorVel

In other CorVel news, Director Alan Hoops sold 10,200 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the sale, the director now directly owns 118,213 shares of the company's stock, valued at $13,758,811.07. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the business's 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 transaction, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,723 shares of company stock worth $5,757,140 over the last 90 days. Insiders own 47.57% of the company's stock.

CorVel Stock Up 1.7 %

Shares of CRVL traded up $1.90 during mid-day trading on Wednesday, hitting $114.77. 34,401 shares of the company's stock were exchanged, compared to its average volume of 111,748. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 67.51 and a beta of 0.94. The firm has a fifty day moving average of $110.94 and a two-hundred day moving average of $115.46. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61.

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

Analyst Ratings Changes

Separately, StockNews.com upgraded 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.