CorVel Corp. (NASDAQ:CRVL) Shares Acquired by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in CorVel Corp. by 84.2%, owning 6,521 shares valued at $730,000 as of their latest SEC filing.
• Multiple institutional investors, including Principal Financial Group and Farther Finance Advisors, have also raised their stakes in CorVel, demonstrating growing interest from hedge funds.
• Wall Street Zen upgraded CorVel shares from a "hold" to a "buy" rating, indicating a positive outlook for the company moving forward.

Royce & Associates LP raised its stake in CorVel Corp. (NASDAQ:CRVL - Free Report) by 84.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,521 shares of the business services provider's stock after acquiring an additional 2,981 shares during the period. Royce & Associates LP's holdings in CorVel were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CRVL. LGT Financial Advisors LLC boosted its stake in CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after acquiring an additional 170 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of CorVel in the first quarter valued at about $28,000. Bessemer Group Inc. raised its holdings in shares of CorVel by 6,350.0% in the fourth 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 last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of CorVel by 300.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock valued at $53,000 after buying an additional 360 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of CorVel by 154.9% in the fourth quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock valued at $55,000 after buying an additional 299 shares during the last quarter. 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.

Insider Activity

In other CorVel news, EVP Mark E. Bertels sold 900 shares of CorVel stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $113.34, for a total transaction of $102,006.00. Following the completion of the transaction, the executive vice president owned 2,586 shares in the company, valued at approximately $293,097.24. The trade was a 25.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Maxim Shishin sold 2,400 shares of CorVel stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $108.09, for a total transaction of $259,416.00. Following the transaction, the insider owned 7,050 shares of the company's stock, valued at approximately $762,034.50. The trade was a 25.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,079 shares of company stock valued at $1,446,023 in the last quarter. Insiders own 44.56% of the company's stock.

CorVel Trading Down 2.1%

Shares of CorVel stock traded down $1.89 on Friday, reaching $86.71. 176,963 shares of the stock were exchanged, compared to its average volume of 155,406. CorVel Corp. has a 1-year low of $86.32 and a 1-year high of $128.61. The business has a fifty day moving average price of $101.36 and a two-hundred day moving average price of $108.47. The firm has a market capitalization of $4.46 billion, a PE ratio of 47.21 and a beta of 0.98.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. The firm had revenue of $231.51 million for the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%.

About CorVel

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.