Mackenzie Financial Corp Acquires Shares of 7,624 CorVel Co. (NASDAQ:CRVL)

Mackenzie Financial Corp acquired a new position in CorVel Co. (NASDAQ:CRVL - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,624 shares of the business services provider's stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kolinsky Wealth Management LLC lifted its holdings in CorVel by 200.0% during the fourth quarter. Kolinsky Wealth Management LLC now owns 5,205 shares of the business services provider's stock valued at $579,000 after purchasing an additional 3,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CorVel by 234.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider's stock valued at $10,415,000 after purchasing an additional 65,620 shares in the last quarter. Voloridge Investment Management LLC lifted its holdings in CorVel by 210.8% during the fourth quarter. Voloridge Investment Management LLC now owns 34,775 shares of the business services provider's stock valued at $3,869,000 after purchasing an additional 23,585 shares in the last quarter. Wolverine Trading LLC lifted its holdings in CorVel by 266.6% during the fourth quarter. Wolverine Trading LLC now owns 4,550 shares of the business services provider's stock valued at $511,000 after purchasing an additional 3,309 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in CorVel during the fourth quarter valued at approximately $269,000. Hedge funds and other institutional investors own 51.36% of the company's stock.

CorVel Price Performance

Shares of CRVL stock traded down $1.79 during mid-day trading on Thursday, hitting $109.56. The company had a trading volume of 86,927 shares, compared to its average volume of 119,916. The stock's 50 day moving average price is $112.20 and its 200-day moving average price is $116.38. CorVel Co. has a 52-week low of $76.53 and a 52-week high of $128.61. The company has a market capitalization of $5.63 billion, a P/E ratio of 64.45 and a beta of 1.10.

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. CorVel had a net margin of 10.12% and a return on equity of 32.22%. The company had revenue of $231.51 million for the quarter.

Analysts Set New Price Targets

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

Insider Buying and Selling at CorVel

In other news, EVP Mark E. Bertels sold 900 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $113.34, for a total value of $102,006.00. Following the transaction, the executive vice president now directly owns 2,586 shares in the company, valued at approximately $293,097.24. This represents a 25.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jennifer Yoss sold 1,050 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was 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 in the company, valued at approximately $232,582.32. The trade was a 33.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,245 shares of company stock worth $2,690,457 over the last quarter. Insiders own 47.57% of the company's stock.

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.