GAMMA Investing LLC Buys 76,267 Shares of CorVel Co. (NASDAQ:CRVL)

GAMMA Investing LLC increased its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 17,654.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,699 shares of the business services provider's stock after purchasing an additional 76,267 shares during the period. GAMMA Investing LLC owned approximately 0.15% of CorVel worth $8,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC raised its position in CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after buying an additional 170 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of 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 acquiring an additional 254 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of CorVel in the fourth quarter valued at approximately $37,000. US Bancorp DE lifted its position in shares of CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock worth $43,000 after purchasing an additional 266 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in CorVel by 300.0% during the fourth 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 own 51.36% of the company's stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other CorVel news, EVP Mark E. Bertels sold 900 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.34, for a total value of $102,006.00. Following the sale, the executive vice president now owns 2,586 shares of the company's stock, valued at approximately $293,097.24. This trade represents a 25.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R Judd Jessup sold 687 shares of the company's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $111.25, for a total value of $76,428.75. Following the sale, the director now owns 128,832 shares of the company's stock, 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. Insiders have sold a total of 23,245 shares of company stock worth $2,690,457 in the last quarter. Corporate insiders own 47.57% of the company's stock.

CorVel Stock Performance

NASDAQ:CRVL traded down $1.36 during mid-day trading on Monday, hitting $108.20. The stock had a trading volume of 119,195 shares, compared to its average volume of 120,041. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61. The company's 50 day simple moving average is $112.07 and its 200 day simple moving average is $116.20. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 63.65 and a beta of 1.02.

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

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.