Erste Asset Management GmbH Boosts Stock Position in CorVel Co. (NASDAQ:CRVL)

Erste Asset Management GmbH boosted its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 182.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,800 shares of the business services provider’s stock after purchasing an additional 3,100 shares during the quarter. Erste Asset Management GmbH’s holdings in CorVel were worth $546,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Boston Trust Walden Corp increased its holdings in shares of CorVel by 196.8% in the 4th quarter. Boston Trust Walden Corp now owns 690,053 shares of the business services provider’s stock valued at $76,775,000 after acquiring an additional 457,538 shares during the last quarter. State Street Corp increased its holdings in shares of CorVel by 0.8% in the 3rd quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock valued at $117,703,000 after acquiring an additional 2,959 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in CorVel by 203.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 261,644 shares of the business services provider’s stock worth $29,111,000 after buying an additional 175,408 shares during the last quarter. Geode Capital Management LLC grew its stake in CorVel by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 253,870 shares of the business services provider’s stock worth $83,000,000 after buying an additional 9,571 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in CorVel during the 4th quarter worth $25,123,000. 51.36% of the stock is currently owned by institutional investors.

CorVel Stock Performance

Shares of CRVL stock opened at $106.65 on Friday. CorVel Co. has a 1 year low of $76.20 and a 1 year high of $128.61. The stock has a fifty day moving average of $112.21 and a two-hundred day moving average of $114.15. The firm has a market capitalization of $5.48 billion, a PE ratio of 62.74 and a beta of 1.06.

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

Analysts Set New Price Targets

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Thursday.

Insider Activity

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 value of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares in the company, valued at $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brandon O’brien sold 1,523 shares of the company’s 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 completion of the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. This trade represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,200 shares of company stock worth $3,824,115 over the last 90 days. 47.57% of the stock is currently owned by company insiders.

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.