Cibc World Markets Corp Makes New Investment in CorVel Co. (NASDAQ:CRVL)

Cibc World Markets Corp acquired a new position in CorVel Co. (NASDAQ:CRVL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,489 shares of the business services provider’s stock, valued at approximately $277,000.

A number of other large investors have also recently made changes to their positions in CRVL. Advisors Asset Management Inc. boosted its holdings in CorVel by 121.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock worth $67,000 after buying an additional 112 shares during the period. Point72 DIFC Ltd purchased a new position in shares of CorVel in the third quarter valued at about $88,000. Fifth Third Bancorp boosted its stake in shares of 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 during the period. Jones Financial Companies Lllp purchased a new stake in shares of CorVel during the fourth quarter worth about $37,000. Finally, US Bancorp DE raised its stake in CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 266 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 10,477 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the transaction, the director now directly owns 568,310 shares in the company, valued at approximately $66,179,699.50. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brandon O’brien sold 1,523 shares of the firm’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 transaction, the chief financial officer now directly owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. This trade represents a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock worth $3,824,115 in the last quarter. 47.57% of the stock is owned by corporate insiders.

CorVel Stock Performance

CRVL opened at $110.10 on Wednesday. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 64.77 and a beta of 1.06. The company has a fifty day moving average of $112.12 and a 200 day moving average of $114.38. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61.

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

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.