CorVel Co. (NASDAQ:CRVL) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP cut its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 57.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,429 shares of the business services provider's stock after selling 4,722 shares during the quarter. Bridgewater Associates LP's holdings in CorVel were worth $382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of CorVel by 202.1% during the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after acquiring an additional 2,195,466 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of CorVel by 184.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock worth $206,813,000 after purchasing an additional 1,204,611 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in 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 purchasing an additional 567,984 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CorVel by 205.1% during the fourth quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock worth $86,204,000 after purchasing an additional 520,783 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in 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 purchasing an additional 457,538 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

Analysts Set New Price Targets

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

CorVel Stock Down 0.4 %

Shares of NASDAQ:CRVL traded down $0.46 during trading on Friday, reaching $110.71. The stock had a trading volume of 40,025 shares, compared to its average volume of 116,738. The stock has a market cap of $5.69 billion, a P/E ratio of 65.13 and a beta of 0.94. The business has a fifty day moving average price of $110.76 and a 200-day moving average price of $115.51. CorVel Co. has a fifty-two week low of $76.53 and a fifty-two week high of $128.61.

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

Insider Activity

In related news, 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 transaction of $182,089.88. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares of the company's stock, valued at $38,772,720. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,723 shares of company stock valued at $5,757,140 in the last three months. Corporate insiders own 47.57% of the company's stock.

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.