Bank of America Corp DE Has $4.65 Million Stock Position in CorVel Co. (NASDAQ:CRVL)

Bank of America Corp DE grew its holdings in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 139.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,787 shares of the business services provider's stock after buying an additional 24,365 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of CorVel worth $4,649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRVL. Barclays PLC lifted its stake in CorVel by 380.8% in the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider's stock valued at $5,223,000 after purchasing an additional 12,654 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of CorVel by 217.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 555 shares of the business services provider's stock worth $62,000 after purchasing an additional 380 shares in the last quarter. SG Americas Securities LLC grew its position in shares of CorVel by 322.2% during the 4th quarter. SG Americas Securities LLC now owns 1,520 shares of the business services provider's stock worth $169,000 after purchasing an additional 1,160 shares in the last quarter. Inspire Investing LLC grew its position in shares of CorVel by 180.9% during the 4th quarter. Inspire Investing LLC now owns 3,570 shares of the business services provider's stock worth $397,000 after purchasing an additional 2,299 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in shares of CorVel by 216.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider's stock worth $59,000 after purchasing an additional 364 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jennifer Yoss sold 1,050 shares of CorVel stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total transaction of $116,959.50. Following the completion of the transaction, the vice president now owns 2,088 shares of the company's stock, valued at $232,582.32. This trade represents a 33.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Hoops sold 3,000 shares of CorVel stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.05, for a total transaction of $339,150.00. Following the transaction, the director now directly owns 16,688 shares of the company's stock, valued at $1,886,578.40. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,245 shares of company stock valued at $2,690,457. Insiders own 47.57% of the company's stock.

Analyst Ratings Changes

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

CorVel Trading Down 0.2%

CorVel stock traded down $0.19 during mid-day trading on Monday, reaching $111.08. The company had a trading volume of 140,989 shares, compared to its average volume of 120,110. CorVel Co. has a fifty-two week low of $76.53 and a fifty-two week high of $128.61. The company has a market cap of $5.70 billion, a P/E ratio of 65.34 and a beta of 1.10. The business has a fifty day simple moving average of $112.20 and a 200 day simple moving average of $116.44.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share (EPS) for the quarter. The firm 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%.

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.