Intech Investment Management LLC Purchases 11,639 Shares of CorVel Co. (NASDAQ:CRVL)

Intech Investment Management LLC boosted its position in CorVel Co. (NASDAQ:CRVL) by 136.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,196 shares of the business services provider’s stock after acquiring an additional 11,639 shares during the quarter. Intech Investment Management LLC’s holdings in CorVel were worth $2,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CRVL. Fifth Third Bancorp grew its stake 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 valued at $36,000 after buying an additional 101 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of CorVel during the fourth quarter valued at about $37,000. US Bancorp DE grew 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 buying an additional 266 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CorVel by 175.2% during the fourth 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 last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of CorVel by 216.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock valued at $59,000 after buying an additional 364 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Insiders Place Their Bets

In other CorVel news, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the sale, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brandon O’brien sold 1,523 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction 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 $2,049,497.52. This trade represents a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock worth $3,824,115 over the last three months. Company insiders own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

CorVel Trading Down 0.9 %

CorVel stock opened at $107.32 on Friday. The firm has a 50-day moving average of $112.02 and a 200-day moving average of $114.11. The firm has a market cap of $5.51 billion, a P/E ratio of 63.13 and a beta of 1.06. CorVel Co. has a 1-year low of $76.20 and a 1-year high of $128.61.

CorVel (NASDAQ:CRVL) last posted its earnings results 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%.

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.