Martingale Asset Management L P Purchases 17,170 Shares of CorVel Co. (NASDAQ:CRVL)

Martingale Asset Management L P boosted its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 192.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,115 shares of the business services provider's stock after buying an additional 17,170 shares during the quarter. Martingale Asset Management L P owned approximately 0.05% of CorVel worth $2,906,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRVL. FMR LLC raised its holdings in shares of CorVel by 193.1% during the third 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 boosted its holdings in shares of CorVel by 0.8% during the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider's stock valued at $117,703,000 after buying an additional 2,959 shares in the last quarter. SkyView Investment Advisors LLC lifted 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 valued at $1,422,000 after acquiring an additional 67 shares during the period. Victory Capital Management Inc. raised its stake in shares of CorVel by 152.8% in the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock worth $12,137,000 after buying an additional 65,940 shares during the period. Finally, Verition Fund Management LLC bought a new stake in shares of CorVel in the third quarter worth about $213,000. Institutional investors own 51.36% of the company's stock.

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Insider Activity

In other news, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the completion of the sale, the director now owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. This trade represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of CorVel stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the transaction, the chief financial officer now directly owns 17,142 shares in the company, valued at $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,723 shares of company stock worth $5,757,140. Company insiders own 47.57% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a report on Tuesday, April 8th.

CorVel Trading Down 1.7 %

Shares of NASDAQ CRVL traded down $2.00 during trading hours on Wednesday, reaching $116.66. The stock had a trading volume of 31,114 shares, compared to its average volume of 113,371. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The firm has a 50-day moving average of $111.28 and a 200-day moving average of $115.19. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 68.62 and a beta of 0.94.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data 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%.

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.