Neuberger Berman Group LLC Grows Position in CorVel Co. (NASDAQ:CRVL)

Neuberger Berman Group LLC grew its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 204.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 845,531 shares of the business services provider’s stock after purchasing an additional 567,984 shares during the quarter. Neuberger Berman Group LLC owned approximately 1.66% of CorVel worth $94,074,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CRVL. Bessemer Group Inc. increased its position in shares of CorVel by 6,350.0% in the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp increased its holdings 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 valued at $36,000 after acquiring an additional 101 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in CorVel in the 4th quarter worth about $37,000. US Bancorp DE increased its holdings in CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in CorVel by 175.2% in the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock worth $48,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insider Activity

In other news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brandon O’brien sold 1,523 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total value of $182,089.88. Following the completion of the sale, the chief financial officer now directly owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,200 shares of company stock valued at $3,824,115. Company insiders own 47.57% of the company’s stock.

CorVel Stock Up 7.3 %

CRVL opened at $115.56 on Thursday. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The stock has a market cap of $5.94 billion, a P/E ratio of 67.98 and a beta of 0.94. The business has a fifty day moving average of $111.80 and a 200 day moving average of $114.92.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com raised CorVel from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.