CorVel Co. (NASDAQ:CRVL) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 161.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,192 shares of the business services provider's stock after acquiring an additional 13,087 shares during the period. Millennium Management LLC's holdings in CorVel were worth $2,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRVL. Victory Capital Management Inc. boosted its holdings in CorVel by 152.8% in the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock worth $12,137,000 after acquiring an additional 65,940 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CorVel by 297.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,900 shares of the business services provider's stock worth $768,000 after purchasing an additional 5,163 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in CorVel by 199.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,343 shares of the business services provider's stock valued at $594,000 after buying an additional 3,558 shares during the period. Federated Hermes Inc. increased its stake in shares of CorVel by 154.9% during the 4th quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock worth $55,000 after purchasing an additional 299 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of CorVel by 200.8% in the fourth quarter. American Century Companies Inc. now owns 13,832 shares of the business services provider's stock valued at $1,539,000 after buying an additional 9,233 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

Insider Buying and Selling at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the transaction, the director now owns 551,787 shares of the company's stock, valued at $64,553,561.13. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Judd Jessup sold 687 shares of CorVel stock in a transaction on Thursday, May 29th. The shares were 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 owns 128,832 shares in the company, valued at approximately $14,332,560. This represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,245 shares of company stock worth $2,690,457. Insiders own 47.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

CorVel Stock Performance

NASDAQ:CRVL traded down $0.04 during trading hours on Wednesday, reaching $111.77. The company's stock had a trading volume of 27,520 shares, compared to its average volume of 119,626. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 65.75 and a beta of 1.10. CorVel Co. has a 1 year low of $76.53 and a 1 year high of $128.61. The firm has a 50-day simple moving average of $112.20 and a 200-day simple moving average of $116.41.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.51 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%.

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.