Natixis Advisors LLC Acquires New Shares in CorVel Co. (NASDAQ:CRVL)

Natixis Advisors LLC purchased a new stake in CorVel Co. (NASDAQ:CRVL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,437 shares of the business services provider’s stock, valued at approximately $1,606,000.

Other hedge funds have also recently modified their holdings of the company. SkyView Investment Advisors LLC lifted its holdings in CorVel by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock worth $1,422,000 after buying an additional 67 shares during the period. Fifth Third Bancorp grew its stake in 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 purchasing an additional 101 shares during the last quarter. Advisors Asset Management Inc. raised 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 purchasing an additional 112 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of CorVel by 4.6% during the third quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock valued at $931,000 after buying an additional 124 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of CorVel by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock valued at $614,000 after buying an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insider Activity at CorVel

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the completion of the transaction, the chief financial officer now directly owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,200 shares of company stock worth $3,824,115 over the last quarter. Insiders own 47.57% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CorVel Trading Up 2.9 %

Shares of CorVel stock opened at $110.97 on Tuesday. The firm’s 50 day simple moving average is $112.12 and its two-hundred day simple moving average is $114.32. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 65.28 and a beta of 1.06. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61.

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

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.