First Trust Advisors LP Acquires 53,707 Shares of CorVel Co. (NASDAQ:CRVL)

First Trust Advisors LP grew its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 338.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 69,568 shares of the business services provider's stock after buying an additional 53,707 shares during the period. First Trust Advisors LP owned approximately 0.14% of CorVel worth $7,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in CorVel by 200.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 26,409 shares of the business services provider's stock worth $2,938,000 after acquiring an additional 17,606 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of CorVel in the 4th quarter worth $671,000. Jump Financial LLC raised its stake in shares of CorVel by 219.2% in the fourth quarter. Jump Financial LLC now owns 9,987 shares of the business services provider's stock worth $1,111,000 after purchasing an additional 6,858 shares during the last quarter. Walleye Capital LLC bought a new position in shares of CorVel during the fourth quarter valued at $730,000. Finally, Mariner LLC boosted its position in shares of CorVel by 214.3% during the fourth quarter. Mariner LLC now owns 2,637 shares of the business services provider's stock valued at $293,000 after buying an additional 1,798 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

CorVel Price Performance

CorVel stock traded down $1.24 during midday trading on Monday, reaching $110.79. 12,693 shares of the company traded hands, compared to its average volume of 119,020. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 64.98 and a beta of 0.94. The business has a 50 day moving average of $110.38 and a two-hundred day moving average of $115.84.

CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Activity

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brandon O'brien sold 1,523 shares of CorVel stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the transaction, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,723 shares of company stock valued at $5,757,140 in the last quarter. 47.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.