CorVel Co. (NASDAQ:CRVL) Stock Position Lifted by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its stake in shares of CorVel Co. (NASDAQ:CRVL) by 292.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,904 shares of the business services provider’s stock after purchasing an additional 6,636 shares during the quarter. Corient Private Wealth LLC’s holdings in CorVel were worth $991,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in CorVel by 121.7% during the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock worth $67,000 after purchasing an additional 112 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CorVel by 7.6% in 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 buying an additional 6,061 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of CorVel by 68.5% in the third quarter. Citigroup Inc. now owns 11,662 shares of the business services provider’s stock valued at $3,812,000 after buying an additional 4,742 shares during the period. Cerity Partners LLC bought a new position in CorVel during the third quarter valued at about $773,000. Finally, FMR LLC grew its holdings in CorVel by 193.1% during the third quarter. FMR LLC now owns 4,306 shares of the business services provider’s stock worth $1,408,000 after acquiring an additional 2,837 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Buying and Selling

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the transaction, the director now directly owns 314,000 shares in the company, valued at $38,772,720. This trade represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan Hoops sold 10,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the sale, the director now owns 118,213 shares in the company, valued at $13,758,811.07. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is owned by corporate insiders.

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $111.95 on Friday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 65.85 and a beta of 1.06. CorVel Co. has a 1-year low of $76.20 and a 1-year high of $128.61. The company has a 50 day moving average price of $112.20 and a 200 day moving average price of $114.34.

CorVel (NASDAQ:CRVL) last released 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%.

Analysts Set New Price Targets

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

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.