Quadrature Capital Ltd Takes $887,000 Position in CorVel Co. (NASDAQ:CRVL)

Quadrature Capital Ltd purchased a new position in shares of CorVel Co. (NASDAQ:CRVL) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,588 shares of the business services provider’s stock, valued at approximately $887,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRVL. 1832 Asset Management L.P. raised its position in shares of CorVel by 112.9% during the fourth quarter. 1832 Asset Management L.P. now owns 1,703 shares of the business services provider’s stock worth $421,000 after purchasing an additional 903 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in CorVel by 76.6% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 3,186 shares of the business services provider’s stock worth $788,000 after buying an additional 1,382 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of CorVel by 11.2% in the fourth quarter. Stifel Financial Corp now owns 26,661 shares of the business services provider’s stock valued at $6,591,000 after buying an additional 2,679 shares in the last quarter. AXS Investments LLC acquired a new position in shares of CorVel during the fourth quarter valued at about $189,000. Finally, Corient Private Wealth LLC increased its position in shares of CorVel by 30.0% during the fourth quarter. Corient Private Wealth LLC now owns 2,321 shares of the business services provider’s stock worth $574,000 after acquiring an additional 535 shares in the last quarter. Institutional investors own 51.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of CorVel from a “hold” rating to a “buy” rating in a research report on Thursday, June 13th.

CorVel Stock Down 1.9 %

Shares of NASDAQ:CRVL opened at $244.92 on Friday. The business’s 50 day moving average is $248.75 and its 200 day moving average is $243.59. CorVel Co. has a 12-month low of $187.92 and a 12-month high of $281.41. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 55.66 and a beta of 1.11.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Wednesday, May 22nd. The business services provider reported $1.12 earnings per share (EPS) for the quarter. The firm had revenue of $207.23 million for the quarter. CorVel had a net margin of 9.59% and a return on equity of 33.49%.

Insider Buying and Selling

In other CorVel news, Director Jeffrey J. Michael sold 3,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $232.45, for a total value of $697,350.00. Following the completion of the sale, the director now owns 192,929 shares in the company, valued at approximately $44,846,346.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Jeffrey J. Michael sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $232.45, for a total value of $697,350.00. Following the completion of the transaction, the director now directly owns 192,929 shares of the company’s stock, valued at $44,846,346.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brandon O’brien sold 1,000 shares of CorVel stock in a transaction on Friday, May 24th. The stock was sold at an average price of $276.95, for a total value of $276,950.00. Following the sale, the chief financial officer now owns 7,305 shares in the company, valued at $2,023,119.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,200 shares of company stock worth $1,574,528. 48.71% of the stock is owned by insiders.

About CorVel

CorVel Corporation provides workers' compensation, auto, liability, and health solutions for employers, third party administrators, insurance companies, and government agencies to assist them in managing the medical costs and monitoring the quality of care associated with healthcare claims. 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.