CorVel Co. (NASDAQ:CRVL) Shares Acquired by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lifted its position in CorVel Co. (NASDAQ:CRVL) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,925,635 shares of the business services provider’s stock after acquiring an additional 21,673 shares during the period. CorVel accounts for 1.2% of Kayne Anderson Rudnick Investment Management LLC’s holdings, making the stock its 21st largest position. Kayne Anderson Rudnick Investment Management LLC owned about 11.22% of CorVel worth $489,631,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRVL. Charles Schwab Investment Management Inc. boosted its stake in CorVel by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,569 shares of the business services provider’s stock worth $18,187,000 after purchasing an additional 2,252 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in CorVel during the fourth quarter worth about $264,000. Norges Bank purchased a new stake in CorVel during the 4th quarter valued at about $19,974,000. Corient Private Wealth LLC raised its holdings in CorVel by 30.0% in the 4th quarter. Corient Private Wealth LLC now owns 2,321 shares of the business services provider’s stock valued at $574,000 after acquiring an additional 535 shares during the last quarter. Finally, AXS Investments LLC purchased a new position in CorVel in the 4th quarter worth approximately $189,000. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Stock Up 0.3 %

Shares of NASDAQ:CRVL opened at $317.30 on Friday. CorVel Co. has a 52-week low of $187.92 and a 52-week high of $325.00. The stock has a market cap of $5.45 billion, a P/E ratio of 72.11 and a beta of 1.08. The business has a fifty day moving average of $305.42 and a two-hundred day moving average of $268.54.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. CorVel had a net margin of 9.55% and a return on equity of 32.25%. The firm had revenue of $211.72 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

Insider Buying and Selling at CorVel

In other news, CFO Brandon O’brien sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $314.98, for a total transaction of $314,980.00. Following the completion of the sale, the chief financial officer now owns 6,502 shares in the company, valued at approximately $2,047,999.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brandon O’brien sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $314.98, for a total value of $314,980.00. Following the completion of the transaction, the chief financial officer now directly owns 6,502 shares in the company, valued at $2,047,999.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael G. Combs sold 2,473 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $300.99, for a total value of $744,348.27. Following the sale, the chief executive officer now directly owns 16,823 shares of the company’s stock, valued at approximately $5,063,554.77. The disclosure for this sale can be found here. Insiders have sold 72,431 shares of company stock worth $19,961,847 in the last ninety days. 47.57% of the stock is owned by 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.