LPL Financial LLC Acquires 6,992 Shares of CorVel Co. (NASDAQ:CRVL)

LPL Financial LLC boosted its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 183.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,807 shares of the business services provider's stock after buying an additional 6,992 shares during the quarter. LPL Financial LLC's holdings in CorVel were worth $1,202,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fifth Third Bancorp increased 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 during the last quarter. Jones Financial Companies Lllp bought a new position in shares of CorVel during the 4th quarter valued at approximately $37,000. US Bancorp DE grew its stake in shares of CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after acquiring an additional 266 shares during the period. GAMMA Investing LLC grew its stake in shares of CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after acquiring an additional 275 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of CorVel by 216.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider's stock valued at $59,000 after acquiring an additional 364 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

Insiders Place Their Bets

In related 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 sale, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. The trade was a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brandon O'brien sold 1,523 shares of the stock in a transaction on Tuesday, February 11th. The shares were 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 of the company's stock, valued at $2,049,497.52. This trade 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 worth $5,757,140 in the last three months. 47.57% of the stock is owned by company insiders.

CorVel Price Performance

Shares of NASDAQ:CRVL traded down $0.79 during mid-day trading on Thursday, reaching $113.86. 16,777 shares of the company traded hands, compared to its average volume of 114,913. The company's 50 day moving average price is $110.88 and its 200-day moving average price is $115.45. The firm has a market cap of $5.85 billion, a PE ratio of 66.97 and a beta of 0.94. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61.

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

Wall Street Analysts Forecast Growth

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

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.