Vestcor Inc Purchases 2,550 Shares of CorVel Co. (NASDAQ:CRVL)

Vestcor Inc lifted its position in shares of CorVel Co. (NASDAQ:CRVL) by 200.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,825 shares of the business services provider’s stock after purchasing an additional 2,550 shares during the period. Vestcor Inc’s holdings in CorVel were worth $426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SkyView Investment Advisors LLC grew its stake in CorVel by 1.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 67 shares during the period. Fifth Third Bancorp boosted its holdings in shares of CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after buying an additional 101 shares during the last quarter. Advisors Asset Management Inc. grew its position in CorVel by 121.7% during the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after buying an additional 112 shares during the period. Sanctuary Advisors LLC raised its position in CorVel by 4.6% in the third quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock worth $931,000 after acquiring an additional 124 shares during the period. Finally, Franklin Resources Inc. boosted its stake in CorVel by 9.9% in the third quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock valued at $614,000 after acquiring an additional 173 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a report on Thursday, March 13th.

Insider Buying and Selling

In other news, Director Steven J. Hamerslag sold 10,000 shares of the firm’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 transaction, the director now directly owns 314,000 shares of the company’s stock, valued at $38,772,720. This trade represents a 3.09 % 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 Alan Hoops sold 10,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the sale, the director now owns 118,213 shares in the company, valued at approximately $13,758,811.07. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,200 shares of company stock valued at $3,824,115. Company insiders own 47.57% of the company’s stock.

CorVel Stock Performance

CRVL stock opened at $106.21 on Tuesday. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock has a fifty day moving average of $112.15 and a 200-day moving average of $114.21. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 62.48 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last posted its 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%.

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.