CorVel Co. (NASDAQ:CRVL) Stake Lifted by State Street Corp

State Street Corp lifted its stake in shares of CorVel Co. (NASDAQ:CRVL) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 360,068 shares of the business services provider’s stock after acquiring an additional 2,959 shares during the quarter. State Street Corp owned about 2.10% of CorVel worth $117,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRVL. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of CorVel by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock valued at $489,631,000 after purchasing an additional 21,673 shares in the last quarter. Intech Investment Management LLC acquired a new stake in CorVel during the third quarter valued at approximately $2,797,000. State of New Jersey Common Pension Fund D bought a new stake in CorVel during the second quarter worth approximately $1,937,000. Charles Schwab Investment Management Inc. grew its position in CorVel by 7.6% in the third 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 during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of CorVel in the second quarter valued at $1,272,000. Institutional investors own 51.36% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark E. Bertels sold 350 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $357.35, for a total value of $125,072.50. Following the transaction, the executive vice president now owns 860 shares in the company, valued at $307,321. This represents a 28.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 47.57% of the company’s stock.

CorVel Trading Down 0.8 %

Shares of CRVL opened at $352.00 on Monday. The business’s 50-day moving average price is $336.33 and its 200 day moving average price is $304.35. The stock has a market capitalization of $6.03 billion, a P/E ratio of 74.73 and a beta of 1.14. CorVel Co. has a 1-year low of $223.89 and a 1-year high of $381.73.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

CorVel 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.