Price T Rowe Associates Inc. MD increased its holdings in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 198.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 625,612 shares of the business services provider's stock after purchasing an additional 415,939 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.23% of CorVel worth $69,607,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CRVL. Bessemer Group Inc. boosted its holdings in shares of CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock valued at $29,000 after buying an additional 254 shares during the last quarter. Fifth Third Bancorp lifted its stake in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of CorVel in the 4th quarter valued at about $37,000. US Bancorp DE increased 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 worth $43,000 after purchasing an additional 266 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock valued at $48,000 after purchasing an additional 275 shares during the period. Institutional investors own 51.36% of the company's stock.
Insider Buying and Selling at CorVel
In other news, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the transaction, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brandon O'brien sold 1,523 shares of CorVel stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the sale, the chief financial officer now directly owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,723 shares of company stock valued at $5,757,140 in the last three months. 47.57% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.
Get Our Latest Research Report on CRVL
CorVel Stock Up 2.8 %
Shares of NASDAQ CRVL traded up $3.06 during midday trading on Friday, hitting $112.03. 116,171 shares of the company's stock were exchanged, compared to its average volume of 119,410. CorVel Co. has a 12 month low of $76.53 and a 12 month high of $128.61. The company's 50 day moving average price is $110.38 and its 200 day moving average price is $115.84. The firm has a market capitalization of $5.75 billion, a PE ratio of 65.90 and a beta of 0.94.
CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.
CorVel Company Profile
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Free Report)
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.
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