Royce & Associates LP Acquires 2,344 Shares of CorVel Co. (NASDAQ:CRVL)

Royce & Associates LP raised its holdings in CorVel Co. (NASDAQ:CRVL) by 196.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,540 shares of the business services provider’s stock after acquiring an additional 2,344 shares during the quarter. Royce & Associates LP’s holdings in CorVel were worth $394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 112 shares during the last quarter. Point72 DIFC Ltd bought a new position in CorVel in the third quarter valued at approximately $88,000. Fifth Third Bancorp boosted 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. Finally, US Bancorp DE boosted its position in shares of CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after purchasing an additional 266 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

CorVel Stock Up 0.5 %

Shares of NASDAQ CRVL opened at $107.86 on Friday. The company’s fifty day moving average is $112.06 and its 200-day moving average is $114.12. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 63.45 and a beta of 1.06. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL) last announced 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%.

Insider Buying and Selling

In related news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 568,310 shares in the company, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brandon O’brien sold 1,523 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares in the company, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock worth $3,824,115 over the last ninety days. Company insiders own 47.57% of the company’s stock.

Wall Street Analyst Weigh In

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

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.