Dimensional Fund Advisors LP Cuts Stock Position in CorVel Co. (NASDAQ:CRVL)

Dimensional Fund Advisors LP cut its holdings in CorVel Co. (NASDAQ:CRVL – Get Rating) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 622,362 shares of the business services provider’s stock after selling 3,645 shares during the quarter. Dimensional Fund Advisors LP’s holdings in CorVel were worth $90,448,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Citigroup Inc. increased its position in shares of CorVel by 22.2% during the fourth quarter. Citigroup Inc. now owns 6,479 shares of the business services provider’s stock worth $942,000 after purchasing an additional 1,176 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in CorVel in the 4th quarter valued at about $614,000. UBS Group AG grew its position in CorVel by 12.4% in the 4th quarter. UBS Group AG now owns 14,849 shares of the business services provider’s stock valued at $2,158,000 after acquiring an additional 1,636 shares in the last quarter. Swiss National Bank boosted its stake in shares of CorVel by 0.9% in the fourth quarter. Swiss National Bank now owns 23,100 shares of the business services provider’s stock valued at $3,357,000 after purchasing an additional 200 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of CorVel by 3.3% in the fourth quarter. Arizona State Retirement System now owns 2,701 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 87 shares in the last quarter. 50.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CorVel

In related news, Chairman V Gordon Clemons sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $182.01, for a total value of $455,025.00. Following the completion of the sale, the chairman now owns 380,534 shares in the company, valued at approximately $69,260,993.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CorVel news, CFO Brandon O’brien sold 2,036 shares of the business’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $176.75, for a total value of $359,863.00. Following the transaction, the chief financial officer now directly owns 3,182 shares of the company’s stock, valued at approximately $562,418.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman V Gordon Clemons sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $182.01, for a total transaction of $455,025.00. Following the completion of the transaction, the chairman now directly owns 380,534 shares in the company, valued at $69,260,993.34. The disclosure for this sale can be found here. Insiders sold a total of 59,729 shares of company stock worth $11,088,587 in the last 90 days. 48.56% of the stock is owned by insiders.

CorVel Price Performance

CRVL stock opened at $201.98 on Wednesday. The company has a fifty day moving average price of $198.89 and a 200 day moving average price of $174.43. CorVel Co. has a 12 month low of $129.19 and a 12 month high of $221.82. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 52.87 and a beta of 1.07.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of CorVel in a report on Thursday, May 18th. They issued a “buy” rating for the company.

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