Raymond James Financial Inc. bought a new position in CorVel Co. (NASDAQ:CRVL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 225,805 shares of the business services provider's stock, valued at approximately $25,123,000. Raymond James Financial Inc. owned approximately 0.44% of CorVel at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Martingale Asset Management L P increased its stake in CorVel by 192.0% during the fourth quarter. Martingale Asset Management L P now owns 26,115 shares of the business services provider's stock valued at $2,906,000 after purchasing an additional 17,170 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of CorVel by 184.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,858,830 shares of the business services provider's stock valued at $206,813,000 after buying an additional 1,204,611 shares during the last quarter. Legal & General Group Plc raised its stake in CorVel by 195.4% during the fourth quarter. Legal & General Group Plc now owns 79,161 shares of the business services provider's stock worth $8,807,000 after acquiring an additional 52,367 shares during the period. Invesco Ltd. boosted its stake in CorVel by 225.8% in the fourth quarter. Invesco Ltd. now owns 284,766 shares of the business services provider's stock valued at $31,683,000 after acquiring an additional 197,358 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of CorVel by 235.7% during the fourth quarter. Bank of Montreal Can now owns 5,136 shares of the business services provider's stock valued at $571,000 after purchasing an additional 3,606 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. This trade represents a 2.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,723 shares of company stock worth $5,757,140. 47.57% of the stock is owned by company insiders.
CorVel Price Performance
Shares of CRVL stock traded down $0.68 during trading hours on Thursday, reaching $113.96. The stock had a trading volume of 27,483 shares, compared to its average volume of 114,996. The firm has a 50-day simple moving average of $110.88 and a 200-day simple moving average of $115.45. The firm has a market capitalization of $5.85 billion, a PE ratio of 67.04 and a beta of 0.94. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61.
CorVel (NASDAQ:CRVL - Get Free Report) last released 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.
Read Our Latest Analysis on CRVL
CorVel Company Profile
(
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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