ProShare Advisors LLC Raises Stock Holdings in CorVel Co. (NASDAQ:CRVL)

ProShare Advisors LLC grew its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 333.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Quantinno Capital Management LP grew its holdings in CorVel by 39.8% during the fourth quarter. Quantinno Capital Management LP now owns 3,297 shares of the business services provider's stock worth $367,000 after acquiring an additional 938 shares during the period. Man Group plc grew its holdings in CorVel by 162.1% during the fourth quarter. Man Group plc now owns 15,774 shares of the business services provider's stock worth $1,755,000 after acquiring an additional 9,756 shares during the period. Nuveen Asset Management LLC grew its holdings in CorVel by 116.6% during the fourth quarter. Nuveen Asset Management LLC now owns 75,621 shares of the business services provider's stock worth $8,414,000 after acquiring an additional 40,715 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in CorVel during the fourth quarter worth $234,000. Finally, Occudo Quantitative Strategies LP grew its holdings in CorVel by 184.3% during the fourth quarter. Occudo Quantitative Strategies LP now owns 4,467 shares of the business services provider's stock worth $497,000 after acquiring an additional 2,896 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Stock Down 1.8%

CRVL stock traded down $2.00 on Wednesday, reaching $110.58. 71,784 shares of the company's stock were exchanged, compared to its average volume of 123,010. The stock has a fifty day moving average of $112.13 and a 200-day moving average of $116.64. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61. The firm has a market cap of $5.68 billion, a PE ratio of 65.42 and a beta of 1.10.

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

Insider Activity

In other news, Director Jeffrey J. Michael sold 16,523 shares of the firm's 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 completion of the transaction, the director now owns 551,787 shares in the company, valued at $64,553,561.13. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 47.57% of the company's stock.

Wall Street Analyst Weigh In

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

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.