Cibc World Markets Corp Buys Shares of 2,489 CorVel Co. (NASDAQ:CRVL)

Cibc World Markets Corp purchased a new position in CorVel Co. (NASDAQ:CRVL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,489 shares of the business services provider’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Fifth Third Bancorp grew its position in 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 acquiring an additional 101 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of CorVel during the fourth quarter valued at $37,000. US Bancorp DE boosted its stake in shares of CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC grew its holdings in shares of CorVel by 175.2% in 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 last quarter. Finally, Exchange Traded Concepts LLC increased its stake in CorVel by 216.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock worth $59,000 after buying an additional 364 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brandon O’brien sold 1,523 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total value of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock valued at $3,824,115 over the last ninety days. 47.57% of the stock is owned by company insiders.

Analyst Ratings Changes

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

CorVel Stock Down 0.8 %

Shares of NASDAQ:CRVL opened at $110.10 on Wednesday. The business’s 50 day moving average is $112.12 and its 200 day moving average is $114.38. The stock has a market cap of $5.65 billion, a P/E ratio of 64.77 and a beta of 1.06. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61.

CorVel (NASDAQ:CRVL) last announced 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%.

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.