Granahan Investment Management LLC Acquires 30,555 Shares of CorVel Co. (NASDAQ:CRVL)

Granahan Investment Management LLC boosted its holdings in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 128.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,366 shares of the business services provider's stock after buying an additional 30,555 shares during the quarter. Granahan Investment Management LLC owned approximately 0.11% of CorVel worth $6,049,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of 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 acquiring an additional 3,768,440 shares during the period. Vanguard Group Inc. lifted its position in CorVel by 202.1% during the fourth quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock valued at $365,116,000 after purchasing an additional 2,195,466 shares in the last quarter. Renaissance Technologies LLC grew its holdings in CorVel by 184.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after purchasing an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP increased its position in CorVel by 187.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock worth $171,969,000 after buying an additional 1,007,651 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock worth $94,074,000 after buying an additional 567,984 shares during the period. 51.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

CorVel Price Performance

Shares of NASDAQ CRVL opened at $112.51 on Friday. The stock has a market cap of $5.78 billion, a PE ratio of 66.18 and a beta of 1.10. CorVel Co. has a 1 year low of $76.53 and a 1 year high of $128.61. The firm has a fifty day moving average price of $110.67 and a 200-day moving average price of $115.97.

CorVel (NASDAQ:CRVL - Get Free Report) last issued 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 Transactions at CorVel

In other news, Director Jeffrey J. Michael sold 16,523 shares of the business's stock in a transaction on 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 transaction, the director now owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. The trade was a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the transaction, the director now directly owns 118,213 shares of the company's stock, valued at $13,758,811.07. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,723 shares of company stock valued at $4,522,340 over the last 90 days. Company insiders own 47.57% of the company's stock.

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.

Want to see what other hedge funds are holding CRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CorVel Co. (NASDAQ:CRVL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.