Louisiana State Employees Retirement System Acquires Shares of 4,500 CorVel Co. (NASDAQ:CRVL)

Louisiana State Employees Retirement System purchased a new position in shares of CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,500 shares of the business services provider's stock, valued at approximately $1,112,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Trexquant Investment LP lifted its stake in CorVel by 34.1% during the third quarter. Trexquant Investment LP now owns 1,426 shares of the business services provider's stock worth $280,000 after purchasing an additional 363 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in CorVel by 17.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,426 shares of the business services provider's stock valued at $280,000 after acquiring an additional 208 shares during the period. Linden Thomas Advisory Services LLC grew its position in CorVel by 14.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 1,485 shares of the business services provider's stock valued at $292,000 after acquiring an additional 190 shares in the last quarter. SkyOak Wealth LLC purchased a new stake in CorVel during the fourth quarter worth about $325,000. Finally, Revisor Wealth Management LLC acquired a new stake in shares of CorVel during the third quarter worth about $366,000. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Trading Down 0.2 %

NASDAQ:CRVL traded down $0.41 during midday trading on Wednesday, reaching $239.67. The company had a trading volume of 28,784 shares, compared to its average volume of 35,047. The stock's fifty day simple moving average is $244.88 and its 200-day simple moving average is $229.94. CorVel Co. has a 12-month low of $187.92 and a 12-month high of $265.14. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 55.57 and a beta of 1.07.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The business services provider reported $0.99 earnings per share for the quarter. The business had revenue of $202.30 million for the quarter. CorVel had a net margin of 9.69% and a return on equity of 34.66%.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O'brien sold 813 shares of CorVel stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $260.00, for a total transaction of $211,380.00. Following the transaction, the chief financial officer now owns 7,299 shares of the company's stock, valued at $1,897,740. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Jennifer Yoss sold 1,500 shares of the business's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $239.41, for a total value of $359,115.00. Following the transaction, the vice president now owns 512 shares in the company, valued at approximately $122,577.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brandon O'brien sold 813 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $260.00, for a total value of $211,380.00. Following the sale, the chief financial officer now directly owns 7,299 shares of the company's stock, valued at $1,897,740. The disclosure for this sale can be found here. Insiders sold a total of 16,043 shares of company stock valued at $3,960,007 over the last ninety days. Insiders own 48.71% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of CorVel from a "buy" rating to a "hold" rating in a research note on Saturday, March 16th.

CorVel Company Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.