Royce & Associates LP Has $394,000 Position in CorVel Co. (NASDAQ:CRVL)

Royce & Associates LP raised its holdings in CorVel Co. (NASDAQ:CRVL) by 196.0% during the 4th quarter, Holdings Channel reports. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRVL. Advisors Asset Management Inc. increased its stake in CorVel by 121.7% in the 3rd 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 last quarter. Intech Investment Management LLC acquired a new position in shares of CorVel during the 3rd quarter worth about $2,797,000. Charles Schwab Investment Management Inc. increased its stake in shares of CorVel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock worth $28,190,000 after purchasing an additional 6,061 shares during the last quarter. Citigroup Inc. increased its stake in shares of CorVel by 68.5% during the 3rd quarter. Citigroup Inc. now owns 11,662 shares of the business services provider’s stock worth $3,812,000 after purchasing an additional 4,742 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of CorVel during the 3rd quarter worth about $773,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

CorVel Price Performance

CorVel stock opened at $107.86 on Friday. The firm has a market capitalization of $5.54 billion, a PE ratio of 63.45 and a beta of 1.06. The company’s 50-day moving average is $112.06 and its 200-day moving average is $114.12. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CFO Brandon O’brien sold 1,523 shares of CorVel stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 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 Company Profile

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.