Fred Alger Management LLC Invests $1.94 Million in CorVel Co. (NASDAQ:CRVL)

Fred Alger Management LLC bought a new position in shares of CorVel Co. (NASDAQ:CRVL) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 17,390 shares of the business services provider’s stock, valued at approximately $1,935,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC increased its position in shares of CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after acquiring an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its position in CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after purchasing an additional 254 shares during the period. Fifth Third Bancorp increased its holdings in CorVel by 45.9% in the 4th 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 in the last quarter. Jones Financial Companies Lllp purchased a new position in CorVel in the fourth quarter valued at about $37,000. Finally, US Bancorp DE lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a report on Friday, April 18th.

Insider Buying and Selling

In other CorVel news, CFO Brandon O’brien sold 1,523 shares of the company’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 transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares in the company, valued at $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey J. Michael sold 16,523 shares of CorVel stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the transaction, the director now owns 551,787 shares of the company’s stock, valued at approximately $64,553,561.13. The trade was a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,723 shares of company stock worth $4,522,340. 47.57% of the stock is currently owned by corporate insiders.

CorVel Trading Up 0.3 %

NASDAQ CRVL opened at $112.51 on Friday. The company’s fifty day simple moving average is $110.67 and its 200-day simple moving average is $115.97. The stock has a market cap of $5.78 billion, a P/E ratio of 66.18 and a beta of 1.10. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data 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%.

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.