Voleon Capital Management LP bought a new stake in CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,600 shares of the business services provider's stock, valued at approximately $846,000.
Other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its position 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 acquiring an additional 254 shares during the period. Fifth Third Bancorp raised its stake in shares of CorVel by 45.9% during the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider's stock worth $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the fourth quarter worth $37,000. US Bancorp DE grew 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 buying an additional 266 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake 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 buying an additional 275 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of CorVel from a "hold" rating to a "buy" rating in a research note on Friday, April 18th.
Read Our Latest Stock Report on CRVL
CorVel Price Performance
CorVel stock opened at $108.97 on Friday. The stock's 50 day moving average price is $110.34 and its 200 day moving average price is $115.68. The company has a market cap of $5.60 billion, a PE ratio of 64.10 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 announced 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 net margin of 10.12% and a return on equity of 32.22%.
Insider Transactions 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 shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the sale, the director now directly owns 551,787 shares in the company, valued at $64,553,561.13. This represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now owns 118,213 shares of the company's stock, valued at $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,723 shares of company stock valued at $5,757,140 in the last 90 days. 47.57% of the stock is currently owned by insiders.
CorVel 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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