Walleye Capital LLC Makes New $730,000 Investment in CorVel Co. (NASDAQ:CRVL)

Walleye Capital LLC purchased a new position in CorVel Co. (NASDAQ:CRVL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,562 shares of the business services provider's stock, valued at approximately $730,000.

Several other large investors also recently made changes to their positions in CRVL. Victory Capital Management Inc. raised its position in shares of CorVel by 152.8% in the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock valued at $12,137,000 after purchasing an additional 65,940 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in CorVel by 297.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,900 shares of the business services provider's stock valued at $768,000 after acquiring an additional 5,163 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of CorVel by 199.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,343 shares of the business services provider's stock worth $594,000 after purchasing an additional 3,558 shares during the period. American Century Companies Inc. lifted its position in shares of CorVel by 200.8% during the 4th quarter. American Century Companies Inc. now owns 13,832 shares of the business services provider's stock worth $1,539,000 after purchasing an additional 9,233 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in CorVel by 154.9% during the 4th quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock valued at $55,000 after purchasing an additional 299 shares during the period. Institutional investors own 51.36% of the company's stock.

CorVel Stock Down 0.8 %

Shares of CRVL stock traded down $0.86 during mid-day trading on Friday, reaching $110.31. The stock had a trading volume of 185,999 shares, compared to its average volume of 117,560. CorVel Co. has a one year low of $76.53 and a one year high of $128.61. The firm has a market cap of $5.67 billion, a PE ratio of 64.89 and a beta of 0.94. The firm's 50 day simple moving average is $110.59 and its 200 day simple moving average is $115.72.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.

Insider Activity

In related news, CFO Brandon O'brien sold 1,523 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the transaction, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey J. Michael sold 16,523 shares of CorVel 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 sale, the director now directly owns 551,787 shares of the company's stock, valued at $64,553,561.13. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,723 shares of company stock worth $5,757,140. Company insiders own 47.57% of the company's stock.

About CorVel

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.