Vestcor Inc Boosts Stake in CorVel Co. (NASDAQ:CRVL)

Vestcor Inc raised its holdings in CorVel Co. (NASDAQ:CRVL) by 200.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,825 shares of the business services provider’s stock after acquiring 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 reporting period.

Other large investors have also recently modified their holdings of the company. Fifth Third Bancorp grew its position in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after acquiring an additional 101 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in CorVel during the fourth quarter worth about $37,000. US Bancorp DE lifted its stake in 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 during the last quarter. GAMMA Investing LLC increased its position in shares of CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 275 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of CorVel by 216.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock valued at $59,000 after purchasing an additional 364 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

CorVel Stock Performance

Shares of CorVel stock opened at $106.21 on Tuesday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 62.48 and a beta of 1.06. The company has a fifty day moving average of $112.15 and a 200-day moving average of $114.21. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61.

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

Analyst Ratings Changes

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

Insider Activity at CorVel

In related news, CFO Brandon O’brien sold 1,523 shares of the company’s stock in a transaction on 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 directly owns 17,142 shares in the company, valued at $2,049,497.52. This represents a 8.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction on Thursday, February 6th. The shares were 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. Insiders sold 32,200 shares of company stock worth $3,824,115 in the last ninety days. 47.57% of the stock is owned by company insiders.

CorVel 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.