Stifel Financial Corp lifted its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 224.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 78,331 shares of the business services provider's stock after purchasing an additional 54,176 shares during the quarter. Stifel Financial Corp owned 0.15% of CorVel worth $8,715,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CRVL. Bessemer Group Inc. increased its holdings in 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 period. Fifth Third Bancorp increased 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 CorVel in the fourth quarter valued at approximately $37,000. US Bancorp DE raised its position in CorVel by 225.4% during the fourth 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 lifted its stake in CorVel by 175.2% during the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider's stock worth $48,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.
Get Our Latest Research Report on CorVel
CorVel Trading Up 2.8 %
CorVel stock traded up $3.06 during midday trading on Friday, reaching $112.03. The company's stock had a trading volume of 116,171 shares, compared to its average volume of 119,410. The stock has a market cap of $5.75 billion, a PE ratio of 65.90 and a beta of 0.94. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61. The business has a 50-day moving average price of $110.38 and a 200-day moving average price of $115.77.
CorVel (NASDAQ:CRVL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.
Insider Activity
In other news, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey J. Michael sold 16,523 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 48,723 shares of company stock worth $5,757,140. Insiders own 47.57% of the company's stock.
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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