Maryland State Retirement & Pension System Acquires 6,063 Shares of CorVel Co. (NASDAQ:CRVL)

Maryland State Retirement & Pension System boosted its stake in shares of CorVel Co. (NASDAQ:CRVL) by 197.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,129 shares of the business services provider’s stock after buying an additional 6,063 shares during the period. Maryland State Retirement & Pension System’s holdings in CorVel were worth $1,016,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Xponance Inc. bought a new stake in shares of CorVel in the fourth quarter valued at about $213,000. Intech Investment Management LLC lifted its stake in CorVel by 136.0% in the 4th quarter. Intech Investment Management LLC now owns 20,196 shares of the business services provider’s stock valued at $2,247,000 after acquiring an additional 11,639 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in CorVel by 195.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 21,048 shares of the business services provider’s stock worth $2,342,000 after acquiring an additional 13,918 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of CorVel by 211.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 2,433 shares of the business services provider’s stock worth $271,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of CorVel during the 4th quarter worth approximately $277,000. Institutional investors own 51.36% of the company’s stock.

Insider Activity

In other CorVel news, Director Steven J. Hamerslag sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the sale, the director now owns 314,000 shares in the company, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $116.45, for a total value of $1,220,046.65. Following the completion of the sale, the director now directly owns 568,310 shares of the company’s stock, valued at approximately $66,179,699.50. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

CorVel Price Performance

CorVel stock opened at $107.86 on Monday. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 63.45 and a beta of 1.06. The firm has a 50-day moving average of $112.06 and a 200-day moving average of $114.27. CorVel Co. has a one year low of $76.20 and a one year high of $128.61.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS 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.