CorVel Co. (NASDAQ:CRVL) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,920 shares of the business services provider's stock after selling 4,484 shares during the quarter. Jane Street Group LLC's holdings in CorVel were worth $1,771,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp boosted its stake in CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in CorVel during the 4th quarter worth $37,000. US Bancorp DE boosted its stake in CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock worth $43,000 after purchasing an additional 266 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in CorVel by 300.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock worth $53,000 after purchasing an additional 360 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.

CorVel Trading Down 3.7%

CRVL traded down $4.23 on Friday, hitting $110.36. 153,028 shares of the company's stock were exchanged, compared to its average volume of 120,383. The firm has a 50-day moving average price of $111.98 and a 200-day moving average price of $116.75. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 64.92 and a beta of 1.10. 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 announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share for the quarter. The firm had revenue of $231.51 million for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Analysts Set New Price Targets

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

In other news, Director Jeffrey J. Michael sold 16,523 shares of the business's stock in a transaction dated 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 approximately $64,553,561.13. The trade was a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 47.57% of the company's stock.

CorVel Company 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.