CorVel Co. (NASDAQ:CRVL) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC boosted its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 333.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,031 shares of the business services provider's stock after purchasing an additional 6,177 shares during the period. ProShare Advisors LLC's holdings in CorVel were worth $894,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in CorVel by 193.7% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,714,351 shares of the business services provider's stock valued at $635,779,000 after buying an additional 3,768,440 shares during the last quarter. Vanguard Group Inc. grew its holdings in CorVel by 202.1% during the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after buying an additional 2,195,466 shares during the last quarter. Renaissance Technologies LLC grew its holdings in CorVel by 184.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after buying an additional 1,204,611 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CorVel by 187.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock valued at $171,969,000 after buying an additional 1,007,651 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in CorVel by 204.6% during the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock valued at $94,074,000 after buying an additional 567,984 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CorVel

In related news, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 47.57% of the company's stock.

Analyst Ratings Changes

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

CorVel Stock Up 0.5%

Shares of CRVL stock traded up $0.51 during mid-day trading on Thursday, hitting $110.95. 16,319 shares of the company's stock were exchanged, compared to its average volume of 119,931. CorVel Co. has a fifty-two week low of $76.53 and a fifty-two week high of $128.61. The stock has a 50-day simple moving average of $112.18 and a two-hundred day simple moving average of $116.60. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 65.27 and a beta of 1.10.

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

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.