Jones Financial Companies Lllp Invests $37,000 in CorVel Co. (NASDAQ:CRVL)

Jones Financial Companies Lllp bought a new position in shares of CorVel Co. (NASDAQ:CRVL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 333 shares of the business services provider’s stock, valued at approximately $37,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRVL. Quest Partners LLC lifted its holdings in CorVel by 95.1% in the third quarter. Quest Partners LLC now owns 3,596 shares of the business services provider’s stock worth $1,175,000 after buying an additional 1,753 shares during the period. Premier Fund Managers Ltd purchased a new stake in CorVel in the third quarter worth about $918,000. Advisors Asset Management Inc. lifted its holdings in CorVel by 121.7% in the third quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock worth $67,000 after buying an additional 112 shares during the period. Intech Investment Management LLC purchased a new stake in CorVel in the third quarter worth about $2,797,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CorVel by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider’s stock worth $28,190,000 after buying an additional 6,061 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

CorVel Price Performance

Shares of CRVL opened at $105.79 on Wednesday. CorVel Co. has a one year low of $76.20 and a one year high of $128.61. The company has a 50-day simple moving average of $112.09 and a two-hundred day simple moving average of $114.20. The firm has a market capitalization of $5.43 billion, a PE ratio of 62.23 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last announced 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%.

Insider Buying and Selling at CorVel

In related news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the sale, the director now owns 568,310 shares of the company’s stock, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the sale, the director now directly owns 118,213 shares of the company’s stock, valued at $13,758,811.07. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,200 shares of company stock valued at $3,824,115. Corporate insiders own 47.57% of the company’s stock.

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.