Louisiana State Employees Retirement System Invests $1.11 Million in CorVel Co. (NASDAQ:CRVL)

Louisiana State Employees Retirement System acquired a new stake in CorVel Co. (NASDAQ:CRVL) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,500 shares of the business services provider’s stock, valued at approximately $1,112,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in CorVel by 0.6% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,965,355 shares of the business services provider’s stock valued at $386,487,000 after acquiring an additional 12,250 shares during the last quarter. Boston Trust Walden Corp increased its stake in CorVel by 1.0% in the fourth quarter. Boston Trust Walden Corp now owns 280,702 shares of the business services provider’s stock valued at $69,392,000 after acquiring an additional 2,675 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in CorVel by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 71,317 shares of the business services provider’s stock valued at $14,024,000 after acquiring an additional 2,230 shares during the last quarter. Raymond James & Associates increased its stake in CorVel by 34.1% in the third quarter. Raymond James & Associates now owns 59,060 shares of the business services provider’s stock valued at $11,614,000 after acquiring an additional 15,030 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in CorVel by 9.2% in the third quarter. Victory Capital Management Inc. now owns 52,452 shares of the business services provider’s stock valued at $10,315,000 after acquiring an additional 4,428 shares during the last quarter. 51.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th.

CorVel Price Performance

Shares of CorVel stock opened at $240.08 on Wednesday. CorVel Co. has a fifty-two week low of $187.92 and a fifty-two week high of $265.14. The firm has a market capitalization of $4.11 billion, a P/E ratio of 55.57 and a beta of 1.07. The company’s 50 day moving average price is $244.88 and its two-hundred day moving average price is $229.94.

CorVel (NASDAQ:CRVL) last issued its earnings results on Tuesday, January 30th. The business services provider reported $0.99 earnings per share for the quarter. CorVel had a net margin of 9.69% and a return on equity of 34.66%. The firm had revenue of $202.30 million for the quarter.

Insider Buying and Selling at CorVel

In other news, Chairman V Gordon Clemons sold 3,000 shares of CorVel stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $239.70, for a total transaction of $719,100.00. Following the transaction, the chairman now owns 315,534 shares in the company, valued at $75,633,499.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Chairman V Gordon Clemons sold 3,000 shares of CorVel stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $239.70, for a total transaction of $719,100.00. Following the transaction, the chairman now owns 315,534 shares in the company, valued at $75,633,499.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jennifer Yoss sold 1,500 shares of CorVel stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $239.41, for a total transaction of $359,115.00. Following the transaction, the vice president now owns 512 shares in the company, valued at approximately $122,577.92. The disclosure for this sale can be found here. Insiders have sold 16,043 shares of company stock worth $3,960,007 over the last quarter. Corporate insiders own 48.71% of the company’s stock.

CorVel Profile

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.