Kolinsky Wealth Management LLC Increases Stake in CorVel Co. (NASDAQ:CRVL)

Kolinsky Wealth Management LLC raised its stake in CorVel Co. (NASDAQ:CRVL) by 200.0% in the fourth quarter, HoldingsChannel reports. The fund owned 5,205 shares of the business services provider’s stock after purchasing an additional 3,470 shares during the period. Kolinsky Wealth Management LLC’s holdings in CorVel were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. LGT Financial Advisors LLC increased its holdings in shares of CorVel by 200.0% during the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 170 shares in the last quarter. Bessemer Group Inc. grew its position in CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after buying an additional 254 shares during the period. Fifth Third Bancorp raised its position in shares of CorVel by 45.9% in the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after acquiring an additional 101 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of CorVel in the fourth quarter worth about $37,000. Finally, US Bancorp DE boosted its stake in shares of CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after acquiring an additional 266 shares in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Friday, April 18th.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $113.67 on Wednesday. CorVel Co. has a 1 year low of $76.53 and a 1 year high of $128.61. The firm has a market capitalization of $5.84 billion, a PE ratio of 66.87 and a beta of 1.10. The business’s 50 day moving average price is $111.61 and its 200-day moving average price is $116.64.

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 16,523 shares of the company’s 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 sale, the director now directly owns 551,787 shares in the company, valued at $64,553,561.13. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 47.57% of the stock is currently owned by insiders.

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.