Fmr LLC Acquires 2,837 Shares of CorVel Co. (NASDAQ:CRVL)

Fmr LLC grew its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 193.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,306 shares of the business services provider’s stock after purchasing an additional 2,837 shares during the quarter. Fmr LLC’s holdings in CorVel were worth $1,408,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRVL. Kayne Anderson Rudnick Investment Management LLC boosted its position in CorVel by 1.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider’s stock worth $489,631,000 after purchasing an additional 21,673 shares during the period. Intech Investment Management LLC bought a new position in CorVel during the third quarter worth about $2,797,000. State of New Jersey Common Pension Fund D bought a new position in CorVel during the second quarter worth about $1,937,000. Charles Schwab Investment Management Inc. boosted its position in CorVel by 7.6% during 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 purchasing an additional 6,061 shares during the period. Finally, Marshall Wace LLP bought a new position in CorVel during the second quarter worth about $1,272,000. Institutional investors own 51.36% of the company’s stock.

Analysts Set New Price Targets

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

CorVel Trading Down 0.8 %

Shares of CorVel stock opened at $352.00 on Monday. CorVel Co. has a 12-month low of $223.89 and a 12-month high of $381.73. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 74.73 and a beta of 1.14. The company’s 50-day moving average price is $336.33 and its 200-day moving average price is $304.35.

Insider Transactions at CorVel

In other news, EVP Mark E. Bertels sold 350 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $357.35, for a total value of $125,072.50. Following the sale, the executive vice president now directly owns 860 shares of the company’s stock, valued at approximately $307,321. This represents a 28.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 47.57% of the company’s stock.

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.