Petros Family Wealth LLC acquired a new stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,244 shares of the business services provider's stock, valued at approximately $250,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in CorVel by 202.1% in the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock worth $365,116,000 after acquiring an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC raised its holdings in CorVel by 184.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after buying an additional 1,204,611 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock worth $94,074,000 after buying an additional 567,984 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of CorVel by 205.1% during the 4th quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock valued at $86,204,000 after acquiring an additional 520,783 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of CorVel by 196.8% in the 4th quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider's stock valued at $76,775,000 after acquiring an additional 457,538 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research note on Tuesday, April 8th.
View Our Latest Research Report on CRVL
CorVel Stock Performance
Shares of NASDAQ:CRVL traded down $1.08 during midday trading on Thursday, hitting $116.05. The company's stock had a trading volume of 52,110 shares, compared to its average volume of 113,702. The stock's 50 day simple moving average is $111.30 and its 200 day simple moving average is $115.20. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 68.43 and a beta of 0.94.
CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.
Insiders Place Their Bets
In other news, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the sale, the director now directly owns 551,787 shares in the company, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction that occurred on 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 owns 17,142 shares of the company's stock, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,723 shares of company stock worth $5,757,140. 47.57% of the stock is currently owned by company insiders.
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.
Further Reading
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