Maryland State Retirement & Pension System Has $1.02 Million Stock Position in CorVel Co. (NASDAQ:CRVL)

Maryland State Retirement & Pension System raised its position in CorVel Co. (NASDAQ:CRVL) by 197.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,129 shares of the business services provider’s stock after buying an additional 6,063 shares during the period. Maryland State Retirement & Pension System’s holdings in CorVel were worth $1,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of CorVel by 45.9% in 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 in the last quarter. Jones Financial Companies Lllp acquired a new stake in CorVel in the 4th quarter valued at about $37,000. US Bancorp DE raised its stake in shares of CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after acquiring an additional 266 shares during the last quarter. GAMMA Investing LLC lifted its position 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 worth $48,000 after purchasing an additional 275 shares in 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 purchasing an additional 364 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at CorVel

In related news, CFO Brandon O’brien sold 1,523 shares of the stock in a transaction that occurred 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 directly owns 17,142 shares in the company, valued at $2,049,497.52. This trade represents a 8.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the transaction, the director now owns 314,000 shares of the company’s stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,200 shares of company stock worth $3,824,115. Insiders own 47.57% of the company’s stock.

CorVel Stock Up 0.5 %

CorVel stock opened at $107.86 on Monday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 63.45 and a beta of 1.06. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61. The business’s 50-day simple moving average is $112.06 and its 200 day simple moving average is $114.27.

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

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.