CorVel Corp. $CRVL Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 197,700.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,978 shares of the business services provider’s stock after purchasing an additional 1,977 shares during the quarter. AlphaQuest LLC’s holdings in CorVel were worth $203,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in CorVel by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider’s stock worth $16,085,000 after purchasing an additional 3,818 shares during the period. GAMMA Investing LLC increased its holdings in CorVel by 58.6% during the 1st quarter. GAMMA Investing LLC now owns 685 shares of the business services provider’s stock worth $77,000 after purchasing an additional 253 shares during the period. KBC Group NV increased its holdings in CorVel by 35.1% during the 1st quarter. KBC Group NV now owns 1,564 shares of the business services provider’s stock worth $175,000 after purchasing an additional 406 shares during the period. Envestnet Asset Management Inc. increased its holdings in CorVel by 1.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 49,205 shares of the business services provider’s stock worth $5,509,000 after purchasing an additional 758 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in CorVel by 720.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock worth $10,533,000 after purchasing an additional 89,994 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CRVL shares. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a report on Tuesday, October 14th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a report on Sunday, October 12th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

CorVel Stock Performance

CRVL opened at $73.95 on Monday. The business’s 50-day simple moving average is $79.47 and its 200-day simple moving average is $94.32. The company has a market cap of $3.79 billion, a P/E ratio of 38.12 and a beta of 0.95. CorVel Corp. has a one year low of $70.47 and a one year high of $128.61.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter. The firm had revenue of $234.71 million for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Buying and Selling

In related news, CFO Brandon O’brien sold 1,764 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $91.54, for a total transaction of $161,476.56. Following the transaction, the chief financial officer owned 8,948 shares in the company, valued at $819,099.92. This trade represents a 16.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Maxim Shishin sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $89.16, for a total value of $1,069,920.00. Following the transaction, the insider owned 7,050 shares in the company, valued at $628,578. This represents a 62.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 44.56% of the company’s stock.

About CorVel

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.