Victory Capital Management Inc. Purchases 65,940 Shares of CorVel Co. (NASDAQ:CRVL)

Victory Capital Management Inc. raised its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 152.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,084 shares of the business services provider's stock after buying an additional 65,940 shares during the quarter. Victory Capital Management Inc. owned about 0.21% of CorVel worth $12,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Atria Investments Inc boosted its stake in shares of CorVel by 8.6% in the 3rd quarter. Atria Investments Inc now owns 4,234 shares of the business services provider's stock valued at $1,384,000 after purchasing an additional 335 shares in the last quarter. Axxcess Wealth Management LLC acquired a new stake in CorVel in the third quarter valued at approximately $256,000. Crossmark Global Holdings Inc. bought a new stake in shares of CorVel during the third quarter worth $298,000. Quest Partners LLC lifted its stake in shares of CorVel by 95.1% in the 3rd quarter. Quest Partners LLC now owns 3,596 shares of the business services provider's stock valued at $1,175,000 after acquiring an additional 1,753 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new stake in CorVel during the 3rd quarter worth $918,000. Institutional investors own 51.36% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com lowered CorVel from a "buy" rating to a "hold" rating in a research note on Thursday.

Remove Ads

CorVel Stock Down 0.4 %

NASDAQ CRVL traded down $0.44 on Monday, hitting $106.21. The company's stock had a trading volume of 72,738 shares, compared to its average volume of 105,604. The company's 50-day moving average is $112.21 and its 200 day moving average is $114.21. The firm has a market cap of $5.45 billion, a PE ratio of 62.48 and a beta of 1.06. CorVel Co. has a 1-year low of $76.20 and a 1-year high of $128.61.

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

Insider Activity

In related news, Director Jeffrey J. Michael sold 10,477 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the sale, the director now owns 568,310 shares of the company's stock, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 118,213 shares of the company's stock, valued at approximately $13,758,811.07. The trade was a 7.94 % 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 valued at $3,824,115. 47.57% of the stock is currently owned by insiders.

About CorVel

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.