ProShare Advisors LLC Buys 6,177 Shares of CorVel Co. (NASDAQ:CRVL)

ProShare Advisors LLC raised its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 333.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,031 shares of the business services provider's stock after buying an additional 6,177 shares during the quarter. ProShare Advisors LLC's holdings in CorVel were worth $894,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC increased its holdings 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 period. Bessemer Group Inc. increased its holdings in CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after buying an additional 254 shares during the period. Fifth Third Bancorp increased its holdings in CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after buying an additional 101 shares during the period. Jones Financial Companies Lllp bought a new position in CorVel in the 4th quarter valued at about $37,000. Finally, US Bancorp DE increased its holdings in CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after buying an additional 266 shares during the period. 51.36% of the stock is owned by institutional investors.

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.

CorVel Trading Up 2.0%

CRVL stock traded up $2.22 during mid-day trading on Tuesday, hitting $112.58. The stock had a trading volume of 163,426 shares, compared to its average volume of 120,569. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61. The firm has a market capitalization of $5.78 billion, a P/E ratio of 66.22 and a beta of 1.10. The firm has a fifty day simple moving average of $112.02 and a 200 day simple moving average of $116.67.

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 (EPS) for the quarter. The company 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%.

Insider Activity at CorVel

In related news, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction that occurred on 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 sale, the director now directly 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 document filed with the SEC, which is available through this hyperlink. 47.57% of the stock is currently owned by insiders.

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.