Victory Capital Management Inc. Buys 65,940 Shares of CorVel Co. (NASDAQ:CRVL)

Victory Capital Management Inc. increased its stake in CorVel Co. (NASDAQ:CRVL) by 152.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,084 shares of the business services provider’s stock after purchasing an additional 65,940 shares during the period. Victory Capital Management Inc. owned approximately 0.21% of CorVel worth $12,137,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CRVL. FMR LLC boosted its stake in CorVel by 193.1% in the third quarter. FMR LLC now owns 4,306 shares of the business services provider’s stock worth $1,408,000 after buying an additional 2,837 shares in the last quarter. State Street Corp boosted its stake in CorVel by 0.8% in the third quarter. State Street Corp now owns 360,068 shares of the business services provider’s stock worth $117,703,000 after buying an additional 2,959 shares in the last quarter. Quest Partners LLC boosted its stake 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 in the last quarter. SkyView Investment Advisors LLC boosted its stake in CorVel by 1.6% in 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 in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in CorVel in the third quarter worth approximately $213,000. 51.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value 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 SEC, which is available through this link. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 118,213 shares of the company’s stock, valued at $13,758,811.07. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered CorVel from a “buy” rating to a “hold” rating in a research note on Thursday.

CorVel Stock Performance

NASDAQ:CRVL opened at $103.48 on Friday. The firm has a market cap of $5.31 billion, a PE ratio of 60.87 and a beta of 1.06. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The business has a 50 day moving average price of $112.29 and a 200-day moving average price of $114.06.

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

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.