CorVel Co. (NASDAQ:CRVL) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC raised its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 200.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,235 shares of the business services provider's stock after purchasing an additional 5,490 shares during the period. NorthCrest Asset Manangement LLC's holdings in CorVel were worth $916,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRVL. Kayne Anderson Rudnick Investment Management LLC increased its position in CorVel by 193.7% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock worth $635,779,000 after purchasing an additional 3,768,440 shares during the last quarter. Vanguard Group Inc. grew its stake in CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock worth $365,116,000 after buying an additional 2,195,466 shares during the period. Renaissance Technologies LLC grew its stake in CorVel by 184.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock worth $206,813,000 after buying an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP grew its stake in CorVel by 187.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock worth $171,969,000 after buying an additional 1,007,651 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in CorVel by 204.6% during the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock worth $94,074,000 after buying an additional 567,984 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

Analyst Upgrades and Downgrades

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

CorVel Price Performance

CRVL traded up $0.97 during trading hours on Friday, reaching $111.70. 227,132 shares of the stock traded hands, compared to its average volume of 120,027. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 65.71 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. The firm's fifty day simple moving average is $112.21 and its two-hundred day simple moving average is $116.48.

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

Insiders Place Their Bets

In other news, Director R Judd Jessup sold 935 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $113.50, for a total value of $106,122.50. Following the transaction, the director now directly owns 129,519 shares in the company, valued at approximately $14,700,406.50. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Alan Hoops sold 3,000 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $113.05, for a total value of $339,150.00. Following the transaction, the director now directly owns 16,688 shares of the company's stock, valued at $1,886,578.40. This trade represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,408 shares of company stock valued at $2,597,264 in the last ninety days. Corporate 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.