Xponance Inc. Purchases New Shares in CorVel Co. (NASDAQ:CRVL)

Xponance Inc. acquired a new position in shares of CorVel Co. (NASDAQ:CRVL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,914 shares of the business services provider’s stock, valued at approximately $213,000.

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC boosted its stake in shares of CorVel by 136.0% during the 4th quarter. Intech Investment Management LLC now owns 20,196 shares of the business services provider’s stock worth $2,247,000 after purchasing an additional 11,639 shares during the period. Thrivent Financial for Lutherans lifted its stake in CorVel by 195.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,048 shares of the business services provider’s stock worth $2,342,000 after purchasing an additional 13,918 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in shares of CorVel by 211.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 2,433 shares of the business services provider’s stock valued at $271,000 after buying an additional 1,651 shares during the period. Cibc World Markets Corp bought a new position in shares of CorVel during the fourth quarter valued at approximately $277,000. Finally, Corient Private Wealth LLC raised its holdings in shares of CorVel by 292.6% in the fourth quarter. Corient Private Wealth LLC now owns 8,904 shares of the business services provider’s stock worth $991,000 after buying an additional 6,636 shares during the period. Institutional investors own 51.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

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 transaction of $1,234,800.00. Following the transaction, the director now owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brandon O’brien sold 1,523 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 of the company’s stock, valued at $2,049,497.52. The trade was a 8.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,200 shares of company stock worth $3,824,115. Company insiders own 47.57% of the company’s stock.

CorVel Price Performance

CRVL stock opened at $111.36 on Friday. The company has a market capitalization of $5.72 billion, a PE ratio of 65.51 and a beta of 1.06. CorVel Co. has a 12 month low of $76.20 and a 12 month high of $128.61. The firm’s 50-day moving average is $112.25 and its 200 day moving average is $114.42.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data 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%.

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.