Envestnet Portfolio Solutions Inc. Purchases 1,331 Shares of CorVel Co. (NASDAQ:CRVL)

Envestnet Portfolio Solutions Inc. grew its holdings in CorVel Co. (NASDAQ:CRVL) by 135.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,313 shares of the business services provider’s stock after acquiring an additional 1,331 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in CorVel were worth $257,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SkyView Investment Advisors LLC grew its holdings in shares of CorVel by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock valued at $1,422,000 after buying an additional 67 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after buying an additional 101 shares during the period. Advisors Asset Management Inc. lifted its holdings in CorVel by 121.7% during the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 112 shares in the last quarter. Sanctuary Advisors LLC increased its stake in CorVel by 4.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock worth $931,000 after buying an additional 124 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in CorVel by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock worth $614,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Insider Activity at CorVel

In related news, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the sale, the director now owns 118,213 shares of the company’s stock, valued at approximately $13,758,811.07. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,200 shares of company stock worth $3,824,115. 47.57% of the stock is currently owned by insiders.

CorVel Stock Down 0.5 %

CRVL stock opened at $111.36 on Friday. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 65.51 and a beta of 1.06. The business has a 50 day moving average price of $112.25 and a 200 day moving average price of $114.42.

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

Wall Street Analyst Weigh In

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

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.