Assenagon Asset Management S.A. Invests $1.40 Million in CorVel Corp. (NASDAQ:CRVL)

Assenagon Asset Management S.A. bought a new stake in CorVel Corp. (NASDAQ:CRVL) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,484 shares of the business services provider’s stock, valued at approximately $1,398,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRVL. LGT Financial Advisors LLC raised its stake in shares of CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock valued at $28,000 after buying an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its holdings 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 purchasing an additional 254 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of CorVel in the 4th quarter valued at approximately $37,000. US Bancorp DE lifted its position 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 buying an additional 266 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in shares of CorVel by 300.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider’s stock worth $53,000 after buying an additional 360 shares during the period. 51.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Friday, April 18th.

CorVel Stock Performance

CRVL opened at $102.67 on Wednesday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 55.90 and a beta of 1.02. The firm’s 50-day simple moving average is $111.44 and its 200-day simple moving average is $115.46. CorVel Corp. has a twelve month low of $81.46 and a twelve month high of $128.61.

CorVel (NASDAQ:CRVL) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $231.51 million during the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%.

Insider Activity at CorVel

In related news, VP Jennifer Yoss sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total value of $116,959.50. Following the completion of the sale, the vice president now owns 2,088 shares of the company’s stock, valued at $232,582.32. This trade represents a 33.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director R Judd Jessup sold 935 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.50, for a total value of $106,122.50. Following the sale, the director now owns 129,519 shares of the company’s stock, valued at approximately $14,700,406.50. The trade was a 0.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,602 shares of company stock valued at $3,379,049 in the last three months. Corporate insiders own 47.57% of the company’s stock.

CorVel 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.