CorVel Co. (NASDAQ:CRVL) Shares Purchased by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. boosted its stake in CorVel Co. (NASDAQ:CRVL) by 221.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,784 shares of the business services provider’s stock after buying an additional 1,917 shares during the period. Summit Investment Advisors Inc.’s holdings in CorVel were worth $310,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its position 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 purchasing an additional 101 shares during the period. Sanctuary Advisors LLC lifted its stake in CorVel by 4.6% during the third quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock worth $931,000 after purchasing an additional 124 shares in the last quarter. Franklin Resources Inc. lifted its stake in CorVel by 9.9% during the third 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 in the last quarter. Bessemer Group Inc. boosted its position in shares of CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after buying an additional 254 shares during the period. Finally, US Bancorp DE grew 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 valued at $43,000 after buying an additional 266 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Stock Performance

NASDAQ CRVL opened at $115.09 on Monday. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 67.70 and a beta of 0.94. The firm has a 50 day simple moving average of $111.19 and a 200-day simple moving average of $115.44. CorVel Co. has a one year low of $76.53 and a one year high of $128.61.

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

Analyst Ratings Changes

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

Insider Activity at CorVel

In related news, Director Jeffrey J. Michael sold 16,523 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the sale, the director now owns 551,787 shares of the company’s stock, valued at $64,553,561.13. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Hamerslag sold 10,000 shares of CorVel 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 completion of the transaction, the director now owns 314,000 shares of the company’s stock, valued at $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,723 shares of company stock worth $5,757,140. Company insiders own 47.57% of the company’s stock.

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.