JPMorgan Chase & Co. Boosts Stake in CorVel Co. (NASDAQ:CRVL)

JPMorgan Chase & Co. raised its stake in shares of CorVel Co. (NASDAQ:CRVL) by 363.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 176,631 shares of the business services provider’s stock after buying an additional 138,518 shares during the period. JPMorgan Chase & Co.’s holdings in CorVel were worth $19,652,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of CorVel by 45.9% during the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 101 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in CorVel in the 4th quarter valued at about $37,000. US Bancorp DE boosted its stake in shares of CorVel by 225.4% during the 4th 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 grew 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 buying an additional 275 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of 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. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Stock Down 0.6 %

Shares of NASDAQ:CRVL opened at $114.90 on Friday. The company has a market cap of $5.90 billion, a P/E ratio of 67.59 and a beta of 0.94. The business has a fifty day simple moving average of $111.78 and a 200-day simple moving average of $114.98. CorVel Co. has a 52 week low of $76.20 and a 52 week high of $128.61.

CorVel (NASDAQ:CRVL) last posted 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%.

Insider Buying and Selling

In other news, Director Alan Hoops sold 10,200 shares of CorVel 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 transaction, the director now directly owns 118,213 shares of the company’s stock, valued at $13,758,811.07. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the sale, the director now directly owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,723 shares of company stock valued at $5,757,140. Insiders own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.