By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS purchased a new stake in CorVel Co. (NASDAQ:CRVL – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,000 shares of the business services provider’s stock, valued at approximately $668,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sei Investments Co. grew its position in CorVel by 200.0% in the fourth quarter. Sei Investments Co. now owns 60,168 shares of the business services provider’s stock worth $6,694,000 after acquiring an additional 40,112 shares during the period. American Century Companies Inc. grew its holdings in shares of CorVel by 200.8% during the 4th quarter. American Century Companies Inc. now owns 13,832 shares of the business services provider’s stock worth $1,539,000 after purchasing an additional 9,233 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of CorVel by 200.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 939 shares of the business services provider’s stock worth $104,000 after purchasing an additional 626 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in CorVel by 199.5% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,814 shares of the business services provider’s stock valued at $647,000 after buying an additional 3,873 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in CorVel by 229.1% in the 4th quarter. Teacher Retirement System of Texas now owns 84,270 shares of the business services provider’s stock valued at $9,376,000 after buying an additional 58,661 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.
Insider Activity
In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred 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 in the company, valued at $38,772,720. This represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brandon O’brien sold 1,523 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is currently owned by company insiders.
CorVel Stock Up 1.3 %
Shares of NASDAQ CRVL opened at $113.41 on Wednesday. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The business’s 50 day moving average is $112.38 and its two-hundred day moving average is $114.75. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 66.71 and a beta of 1.06.
CorVel (NASDAQ:CRVL – Get Free Report) last posted its earnings results 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%.
Analyst Ratings Changes
Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th.
Read Our Latest Report on CorVel
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.
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