Vanguard Group Inc. Purchases 2,195,466 Shares of CorVel Co. (NASDAQ:CRVL)

Vanguard Group Inc. raised its holdings in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 202.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,281,649 shares of the business services provider's stock after purchasing an additional 2,195,466 shares during the period. Vanguard Group Inc. owned approximately 6.43% of CorVel worth $365,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CRVL. Point72 DIFC Ltd purchased a new stake in shares of CorVel during the third quarter valued at $88,000. Fifth Third Bancorp boosted its holdings in shares of 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 last quarter. Jones Financial Companies Lllp purchased a new stake in shares of CorVel during the 4th quarter valued at about $37,000. US Bancorp DE raised its holdings in shares of CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after purchasing an additional 266 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in 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 period. Institutional investors own 51.36% of the company's stock.

Wall Street Analysts Forecast Growth

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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Insider Buying and Selling at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brandon O'brien sold 1,523 shares of the company's 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 completion of the sale, the chief financial officer now owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,200 shares of company stock valued at $3,824,115. Insiders own 47.57% of the company's stock.

CorVel Price Performance

Shares of CRVL traded down $1.70 during trading hours on Monday, hitting $108.81. The stock had a trading volume of 156,290 shares, compared to its average volume of 111,954. CorVel Co. has a 12 month low of $76.20 and a 12 month high of $128.61. The stock has a fifty day moving average price of $112.12 and a 200 day moving average price of $114.89. The firm has a market capitalization of $5.59 billion, a PE ratio of 64.01 and a beta of 0.94.

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

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.