Kolinsky Wealth Management LLC Buys 3,470 Shares of CorVel Co. (NASDAQ:CRVL)

Kolinsky Wealth Management LLC increased its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,205 shares of the business services provider's stock after acquiring an additional 3,470 shares during the period. Kolinsky Wealth Management LLC's holdings in CorVel were worth $579,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRVL. Victory Capital Management Inc. boosted its position in CorVel by 152.8% during the 4th 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings 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 worth $594,000 after purchasing an additional 3,558 shares during the last quarter. Federated Hermes Inc. grew its position in CorVel by 154.9% in the fourth quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock valued at $55,000 after purchasing an additional 299 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in CorVel by 200.8% in the 4th 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 last quarter. 51.36% of the stock is owned by institutional investors.

CorVel Price Performance

CRVL stock traded down $4.23 during trading hours on Monday, reaching $110.36. The stock had a trading volume of 153,028 shares, compared to its average volume of 120,397. The stock has a 50-day simple moving average of $111.98 and a 200 day simple moving average of $116.74. CorVel Co. has a fifty-two week low of $76.53 and a fifty-two week high of $128.61. The stock has a market capitalization of $5.67 billion, a PE ratio of 64.92 and a beta of 1.10.

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

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was 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 in the company, valued at approximately $64,553,561.13. This trade represents 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 accessible through this link. Insiders own 47.57% of the company's stock.

Wall Street Analyst Weigh In

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

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.