Charles Schwab Investment Management Inc. Increases Stock Position in CorVel Co. (NASDAQ:CRVL)

Charles Schwab Investment Management Inc. lifted its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 203.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,644 shares of the business services provider’s stock after acquiring an additional 175,408 shares during the period. Charles Schwab Investment Management Inc. owned 0.51% of CorVel worth $29,111,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Steward Partners Investment Advisory LLC grew its position in shares of CorVel by 199.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,343 shares of the business services provider’s stock worth $594,000 after acquiring an additional 3,558 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of CorVel during the fourth quarter worth $37,000. Smartleaf Asset Management LLC lifted its holdings in shares of CorVel by 1,412.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 711 shares of the business services provider’s stock worth $80,000 after purchasing an additional 664 shares during the period. US Bancorp DE lifted its holdings 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 worth $43,000 after purchasing an additional 266 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of CorVel by 202.0% during the fourth quarter. Mutual of America Capital Management LLC now owns 4,125 shares of the business services provider’s stock worth $459,000 after purchasing an additional 2,759 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares in the company, valued at approximately $38,772,720. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Hoops sold 10,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock worth $3,824,115 in the last 90 days. 47.57% of the stock is owned by company insiders.

CorVel Stock Down 0.4 %

NASDAQ:CRVL opened at $106.21 on Tuesday. The company has a market capitalization of $5.45 billion, a PE ratio of 62.48 and a beta of 1.06. CorVel Co. has a 52-week low of $76.20 and a 52-week high of $128.61. The stock has a fifty day simple moving average of $112.15 and a 200-day simple moving average of $114.21.

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

Analyst Upgrades and Downgrades

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

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.