CorVel Co. (NASDAQ:CRVL) Shares Purchased by Royce & Associates LP

Royce & Associates LP raised its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 196.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,540 shares of the business services provider's stock after buying an additional 2,344 shares during the period. Royce & Associates LP's holdings in CorVel were worth $394,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Advisors Asset Management Inc. boosted its holdings in 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 purchasing an additional 112 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of CorVel during the third quarter worth approximately $88,000. Fifth Third Bancorp increased its stake in shares of CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after buying an additional 101 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in CorVel in the fourth quarter valued at $37,000. Finally, US Bancorp DE raised its holdings in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after acquiring an additional 266 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research report on Thursday, March 13th.

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CorVel Trading Up 1.3 %

NASDAQ CRVL traded up $1.43 on Wednesday, hitting $111.53. 71,605 shares of the stock traded hands, compared to its average volume of 106,419. The company has a market capitalization of $5.73 billion, a P/E ratio of 65.61 and a beta of 1.06. The stock has a 50-day moving average of $112.12 and a 200 day moving average of $114.38. 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 posted 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%.

Insider Transactions at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 10,477 shares of CorVel stock in a transaction that occurred on Thursday, February 20th. The stock was 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. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now owns 314,000 shares in the company, valued at $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,200 shares of company stock worth $3,824,115. 47.57% of the stock is currently owned by insiders.

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.