Geode Capital Management LLC Raises Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Geode Capital Management LLC increased its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 205.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 774,653 shares of the business services provider’s stock after buying an additional 520,783 shares during the quarter. Geode Capital Management LLC’s holdings in CorVel were worth $86,204,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Fifth Third Bancorp lifted its position 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 worth $36,000 after purchasing an additional 101 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in CorVel in the 4th quarter worth about $37,000. US Bancorp DE lifted its holdings in CorVel by 225.4% during the 4th 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. GAMMA Investing LLC boosted its position in CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after buying an additional 275 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in CorVel by 300.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider’s stock worth $53,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Trading Down 0.6 %

Shares of CRVL stock opened at $114.90 on Friday. CorVel Co. has a twelve month low of $76.20 and a twelve month high of $128.61. The stock has a fifty day simple moving average of $111.78 and a two-hundred day simple moving average of $114.98. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 67.59 and a beta of 0.94.

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

Insider Transactions at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of CorVel stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the transaction, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Hoops sold 10,200 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total transaction 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 $13,758,811.07. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,723 shares of company stock valued at $5,757,140. Company insiders own 47.57% of the company’s stock.

Analyst Ratings Changes

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

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.