Martingale Asset Management L P Boosts Position in CorVel Co. (NASDAQ:CRVL)

Martingale Asset Management L P raised its position in CorVel Co. (NASDAQ:CRVL) by 192.0% during the 4th quarter, Holdings Channel reports. The firm owned 26,115 shares of the business services provider’s stock after acquiring an additional 17,170 shares during the quarter. Martingale Asset Management L P’s holdings in CorVel were worth $2,906,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its holdings in CorVel by 45.9% during 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 in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of CorVel in the fourth quarter valued at approximately $37,000. US Bancorp DE increased 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 in the last quarter. GAMMA Investing LLC raised its position in shares of CorVel by 175.2% during the 4th 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, CIBC Private Wealth Group LLC grew its holdings in CorVel by 300.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider’s stock valued at $53,000 after buying an additional 360 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Activity

In other news, CFO Brandon O’brien sold 1,523 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $119.56, for a total transaction of $182,089.88. Following the completion of the transaction, the chief financial officer now owns 17,142 shares of the company’s stock, valued at $2,049,497.52. This represents a 8.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeffrey J. Michael sold 16,523 shares of the business’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 transaction of $1,933,025.77. Following the completion of the sale, the director now owns 551,787 shares of the company’s stock, valued at approximately $64,553,561.13. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,723 shares of company stock valued at $5,757,140 over the last quarter. Company insiders own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

CorVel Trading Down 0.6 %

NASDAQ:CRVL opened at $114.90 on Friday. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 67.59 and a beta of 0.94. The company’s 50-day moving average is $111.78 and its two-hundred day moving average is $114.98.

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

CorVel Company 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.