RBF Capital LLC boosted its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 200.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,000 shares of the business services provider's stock after purchasing an additional 4,000 shares during the period. RBF Capital LLC's holdings in CorVel were worth $668,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp lifted its stake in CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in CorVel during the 4th quarter worth about $37,000. US Bancorp DE raised its position in CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after purchasing an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in 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 in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.
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.
Get Our Latest Stock Analysis on CorVel
Insider Activity
In related news, Director Steven J. Hamerslag sold 10,000 shares of the firm's stock in a transaction that occurred 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 approximately $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey J. Michael sold 10,477 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the transaction, the director now owns 568,310 shares in the company, valued at $66,179,699.50. The trade was a 1.81 % 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 90 days. 47.57% of the stock is currently owned by corporate insiders.
CorVel Stock Down 2.0 %
NASDAQ:CRVL traded down $2.24 during mid-day trading on Tuesday, reaching $107.51. 31,194 shares of the stock were exchanged, compared to its average volume of 117,505. The company has a 50 day simple moving average of $110.39 and a 200-day simple moving average of $115.76. The stock has a market capitalization of $5.52 billion, a P/E ratio of 62.96 and a beta of 0.94. CorVel Co. has a 1 year low of $76.53 and a 1 year 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 (EPS) for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.
About CorVel
(
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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