Geode Capital Management LLC grew its stake in shares of CorVel Co. (NASDAQ:CRVL) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,359 shares of the business services provider’s stock after acquiring an additional 9,694 shares during the period. Geode Capital Management LLC owned 0.82% of CorVel worth $8,218,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CRVL. Municipal Employees Retirement System of Michigan lifted its position in shares of CorVel by 58.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the business services provider’s stock worth $199,000 after acquiring an additional 1,350 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of CorVel during the third quarter worth $102,000. Wells Fargo & Company MN lifted its position in shares of CorVel by 47.6% during the third quarter. Wells Fargo & Company MN now owns 12,597 shares of the business services provider’s stock worth $685,000 after acquiring an additional 4,063 shares in the last quarter. Algert Global LLC lifted its position in shares of CorVel by 11.9% during the third quarter. Algert Global LLC now owns 33,960 shares of the business services provider’s stock worth $1,847,000 after acquiring an additional 3,617 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of CorVel during the third quarter worth $317,000. Hedge funds and other institutional investors own 46.13% of the company’s stock.
Separately, BidaskClub downgraded CorVel from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 29th.
CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, January 30th. The business services provider reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $140.73 million for the quarter. CorVel had a return on equity of 23.74% and a net margin of 6.33%.
CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.
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