LPL Financial LLC Buys 6,992 Shares of CorVel Co. (NASDAQ:CRVL)

LPL Financial LLC boosted its position in CorVel Co. (NASDAQ:CRVL) by 183.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,807 shares of the business services provider’s stock after purchasing an additional 6,992 shares during the period. LPL Financial LLC’s holdings in CorVel were worth $1,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp raised its holdings in CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after purchasing an additional 101 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in CorVel during the 4th quarter worth $37,000. US Bancorp DE raised its stake in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after buying an additional 266 shares during the last quarter. GAMMA Investing LLC grew its position in CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock worth $48,000 after purchasing an additional 275 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of CorVel by 216.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock valued at $59,000 after buying an additional 364 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

Insider Activity

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of CorVel stock in a transaction that occurred 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 owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Michael sold 16,523 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the sale, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. This represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,723 shares of company stock worth $5,757,140. 47.57% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Friday.

CorVel Trading Down 1.7 %

CRVL stock opened at $115.09 on Friday. The business’s 50-day moving average is $111.19 and its 200 day moving average is $115.36. CorVel Co. has a 12-month low of $76.53 and a 12-month high of $128.61. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of 67.70 and a beta of 0.94.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

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.