Chatham Capital Group Inc. Raises Position in CorVel Co. (NASDAQ:CRVL)

Chatham Capital Group Inc. boosted its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 57,955 shares of the business services provider's stock after buying an additional 2,440 shares during the period. CorVel accounts for approximately 1.1% of Chatham Capital Group Inc.'s portfolio, making the stock its 26th largest position. Chatham Capital Group Inc. owned 0.11% of CorVel worth $6,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of CorVel by 193.7% during the fourth 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after purchasing an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC increased 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 valued at $206,813,000 after purchasing an additional 1,204,611 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CorVel by 187.3% during 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 purchasing an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake 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 valued at $94,074,000 after purchasing an additional 567,984 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.

Insider Activity at CorVel

In other CorVel news, Director Alan Hoops sold 3,000 shares of CorVel stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.05, for a total value of $339,150.00. Following the completion of the sale, the director now owns 16,688 shares of the company's stock, valued at approximately $1,886,578.40. The trade was a 15.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R Judd Jessup sold 687 shares of CorVel stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $111.25, for a total transaction of $76,428.75. Following the completion of the sale, the director now directly owns 128,832 shares of the company's stock, valued at approximately $14,332,560. This trade represents a 0.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,245 shares of company stock valued at $2,690,457 over the last 90 days. Corporate insiders own 47.57% of the company's stock.

CorVel Price Performance

Shares of CRVL remained flat at $109.56 on Friday. 81,991 shares of the company traded hands, compared to its average volume of 120,044. The stock has a market cap of $5.63 billion, a P/E ratio of 64.45 and a beta of 1.02. The firm has a 50 day simple moving average of $112.07 and a 200 day simple moving average of $116.23. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. The company had revenue of $231.51 million during the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

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.