Fred Alger Management LLC Makes New Investment in CorVel Co. (NASDAQ:CRVL)

Fred Alger Management LLC bought a new position in CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,390 shares of the business services provider's stock, valued at approximately $1,935,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC lifted its holdings in shares of 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 buying an additional 170 shares during the period. Bessemer Group Inc. lifted 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 acquiring an additional 254 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after purchasing an additional 101 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of CorVel in the 4th quarter worth approximately $37,000. Finally, US Bancorp DE grew its stake in shares of CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock worth $43,000 after purchasing an additional 266 shares during the last quarter. 51.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

CorVel Price Performance

Shares of NASDAQ:CRVL traded up $0.24 on Tuesday, reaching $114.32. 112,889 shares of the company traded hands, compared to its average volume of 119,463. The company's 50 day moving average is $110.80 and its 200-day moving average is $116.26. The stock has a market capitalization of $5.87 billion, a PE ratio of 67.25 and a beta of 1.10. CorVel Co. has a fifty-two week low of $76.53 and a fifty-two week high of $128.61.

Insider Transactions at CorVel

In other CorVel news, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the transaction, the director now owns 118,213 shares of the company's stock, valued at $13,758,811.07. The trade was a 7.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were 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 represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,200 shares of company stock valued at $4,340,250 over the last ninety days. Corporate insiders own 47.57% of the company's stock.

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.