Bearing Point Capital LLC Takes Position in CorVel Co. (NASDAQ:CRVL)

Bearing Point Capital LLC purchased a new position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 12,000 shares of the business services provider's stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRVL. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of CorVel by 193.7% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock valued at $635,779,000 after purchasing an additional 3,768,440 shares during the last quarter. Vanguard Group Inc. increased its position in CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock worth $365,116,000 after buying an additional 2,195,466 shares during the period. Renaissance Technologies LLC lifted its stake in CorVel by 184.1% in 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of CorVel by 187.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock valued at $171,969,000 after acquiring an additional 1,007,651 shares during the period. Finally, Neuberger Berman Group LLC grew its position in shares of CorVel by 204.6% during the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock worth $94,074,000 after acquiring an additional 567,984 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CorVel

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of CorVel 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 of the company's stock, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brandon O'brien sold 1,523 shares of the business'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 in the company, valued at $2,049,497.52. The trade was a 8.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,723 shares of company stock valued at $5,757,140. 47.57% of the stock is owned by company insiders.

CorVel Stock Up 2.8 %

NASDAQ CRVL opened at $112.03 on Friday. The firm has a market cap of $5.75 billion, a P/E ratio of 65.90 and a beta of 0.94. CorVel Co. has a 52-week low of $76.53 and a 52-week high of $128.61. The business's 50-day moving average price is $110.38 and its 200 day moving average price is $115.77.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its 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%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.

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.

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