Maryland State Retirement & Pension System raised its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 197.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,129 shares of the business services provider's stock after acquiring an additional 6,063 shares during the period. Maryland State Retirement & Pension System's holdings in CorVel were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in CRVL. FMR LLC raised 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 worth $1,408,000 after buying an additional 2,837 shares during the last quarter. State Street Corp lifted its holdings 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 buying an additional 2,959 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of 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 purchasing an additional 67 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of CorVel by 152.8% in the 4th 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 in the last quarter. Finally, Verition Fund Management LLC acquired a new position in CorVel during the third quarter worth $213,000. 51.36% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total value of $182,089.88. Following the transaction, the chief financial officer now owns 17,142 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, Director Alan Hoops sold 10,200 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock valued at $3,824,115 in the last ninety days. Company insiders own 47.57% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded CorVel from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th.
View Our Latest Stock Analysis on CRVL
CorVel Trading Up 0.4 %
Shares of CorVel stock traded up $0.42 during mid-day trading on Thursday, hitting $111.95. 91,119 shares of the stock were exchanged, compared to its average volume of 106,321. The company has a 50-day simple moving average of $112.14 and a 200 day simple moving average of $114.36. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 65.85 and a beta of 1.06. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61.
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 net margin of 10.12% and a return on equity of 32.22%.
About CorVel
(
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.
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