Victory Capital Management Inc. Purchases 65,940 Shares of CorVel Co. (NASDAQ:CRVL)

Victory Capital Management Inc. boosted its position in CorVel Co. (NASDAQ:CRVL) by 152.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,084 shares of the business services provider’s stock after purchasing an additional 65,940 shares during the quarter. Victory Capital Management Inc.’s holdings in CorVel were worth $12,137,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CRVL. Fifth Third Bancorp raised its holdings 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 purchasing an additional 101 shares in the last quarter. Jones Financial Companies Lllp bought a new position in CorVel in the fourth quarter worth $37,000. US Bancorp DE raised its holdings in CorVel by 225.4% in 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. GAMMA Investing LLC increased its holdings in shares of CorVel by 175.2% during the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 275 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of CorVel by 216.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock valued at $59,000 after acquiring an additional 364 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a report on Thursday.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $103.48 on Friday. CorVel Co. has a 1-year low of $76.20 and a 1-year high of $128.61. The business has a fifty day moving average price of $112.29 and a 200-day moving average price of $114.06. The company has a market capitalization of $5.31 billion, a PE ratio of 60.87 and a beta of 1.06.

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

Insider Buying and Selling

In other CorVel news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction dated 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 directly owns 568,310 shares of the company’s stock, valued at approximately $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the transaction, the director now directly owns 118,213 shares in the company, valued at $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 worth $3,824,115. 47.57% of the stock is owned by corporate insiders.

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.