Xponance Inc. Buys Shares of 1,914 CorVel Co. (NASDAQ:CRVL)

Xponance Inc. bought a new stake in shares of CorVel Co. (NASDAQ:CRVL) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,914 shares of the business services provider’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRVL. Fifth Third Bancorp raised its position in shares of CorVel by 45.9% in the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of CorVel in the fourth quarter valued at about $37,000. US Bancorp DE raised its stake in shares of CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after purchasing an additional 266 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of CorVel by 175.2% during the fourth 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 period. Finally, Exchange Traded Concepts LLC boosted its position in CorVel by 216.7% in 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Alan Hoops sold 10,200 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 118,213 shares of the company’s stock, valued at approximately $13,758,811.07. This represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 in the company, 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 have sold 32,200 shares of company stock worth $3,824,115. Corporate insiders own 47.57% of the company’s stock.

Analysts Set New Price Targets

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

NASDAQ CRVL opened at $111.36 on Friday. The company has a fifty day moving average of $112.25 and a 200 day moving average of $114.42. The company has a market capitalization of $5.72 billion, a PE ratio of 65.51 and a beta of 1.06. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61.

CorVel (NASDAQ:CRVL) last issued its 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%.

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.