Kayne Anderson Rudnick Investment Management LLC Grows Stock Position in CorVel Co. (NASDAQ:CRVL)

Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 193.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,714,351 shares of the business services provider's stock after buying an additional 3,768,440 shares during the quarter. CorVel makes up approximately 1.5% of Kayne Anderson Rudnick Investment Management LLC's holdings, making the stock its 16th largest holding. Kayne Anderson Rudnick Investment Management LLC owned about 11.13% of CorVel worth $635,779,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CRVL. Vanguard Group Inc. grew its holdings in CorVel by 202.1% during the 4th quarter. Vanguard Group Inc. now owns 3,281,649 shares of the business services provider's stock worth $365,116,000 after acquiring an additional 2,195,466 shares during the period. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 1,204,611 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 1,007,651 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in CorVel by 204.6% in the fourth quarter. Neuberger Berman Group LLC now owns 845,531 shares of the business services provider's stock valued at $94,074,000 after buying an additional 567,984 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of CorVel by 205.1% in the fourth quarter. Geode Capital Management LLC now owns 774,653 shares of the business services provider's stock valued at $86,204,000 after buying an additional 520,783 shares during the period. 51.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CorVel

In related news, Director Steven J. Hamerslag sold 10,000 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the transaction, the director now owns 314,000 shares in the company, valued at $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the transaction, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,723 shares of company stock worth $5,757,140. 47.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

CorVel Stock Down 0.8 %

Shares of CRVL stock traded down $0.92 on Friday, reaching $110.25. The stock had a trading volume of 79,374 shares, compared to its average volume of 116,717. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61. The firm's 50-day moving average is $110.76 and its two-hundred day moving average is $115.51. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 64.85 and a beta of 0.94.

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%.

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.