Hsbc Holdings PLC Acquires 2,834 Shares of CorVel Co. (NASDAQ:CRVL)

Hsbc Holdings PLC grew its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 188.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,341 shares of the business services provider's stock after buying an additional 2,834 shares during the period. Hsbc Holdings PLC's holdings in CorVel were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CRVL. Kayne Anderson Rudnick Investment Management LLC lifted its position in 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 purchasing an additional 3,768,440 shares during the period. Vanguard Group Inc. lifted its stake in CorVel by 202.1% in 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 buying an additional 2,195,466 shares during the period. Renaissance Technologies LLC boosted 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 worth $206,813,000 after buying an additional 1,204,611 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CorVel by 187.3% during the 4th 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 during the period. Finally, Neuberger Berman Group LLC raised its position in shares of CorVel by 204.6% in the 4th quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock valued at $94,074,000 after acquiring an additional 567,984 shares during the period. Institutional investors own 51.36% of the company's stock.

CorVel Stock Up 0.3 %

Shares of NASDAQ:CRVL traded up $0.29 during midday trading on Friday, reaching $112.51. 192,286 shares of the company were exchanged, compared to its average volume of 119,337. The firm has a market cap of $5.78 billion, a PE ratio of 66.18 and a beta of 1.10. The stock has a fifty day simple moving average of $110.67 and a two-hundred day simple moving average of $116.07. CorVel Co. has a fifty-two week low of $76.53 and a fifty-two week high of $128.61.

Insider Activity at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 10,477 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the sale, the director now directly owns 568,310 shares in the company, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction dated 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 directly owns 17,142 shares in the company, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,723 shares of company stock valued at $4,522,340. Corporate insiders own 47.57% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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.