CorVel Corp. $CRVL Stock Holdings Lifted by XTX Topco Ltd

XTX Topco Ltd raised its position in CorVel Corp. (NASDAQ:CRVL) by 128.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,239 shares of the business services provider’s stock after purchasing an additional 5,187 shares during the quarter. XTX Topco Ltd’s holdings in CorVel were worth $950,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in CorVel by 5.3% during the 2nd quarter. Geode Capital Management LLC now owns 845,660 shares of the business services provider’s stock valued at $86,925,000 after purchasing an additional 42,861 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CorVel by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 176,927 shares of the business services provider’s stock valued at $18,185,000 after buying an additional 4,001 shares during the period. Algert Global LLC boosted its stake in shares of CorVel by 5.6% in the 1st quarter. Algert Global LLC now owns 103,079 shares of the business services provider’s stock valued at $11,542,000 after purchasing an additional 5,430 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of CorVel by 720.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock valued at $10,533,000 after purchasing an additional 89,994 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CorVel by 5.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,570 shares of the business services provider’s stock valued at $11,037,000 after acquiring an additional 4,964 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $73.08 on Monday. CorVel Corp. has a 1-year low of $70.47 and a 1-year high of $128.61. The business has a fifty day moving average price of $74.57 and a 200-day moving average price of $89.04. The company has a market capitalization of $3.74 billion, a PE ratio of 37.67 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, November 4th. The business services provider reported $0.54 earnings per share for the quarter. The company had revenue of $239.64 million for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.

Insider Buying and Selling at CorVel

In related news, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $72.35, for a total transaction of $86,820.00. Following the transaction, the executive vice president directly owned 2,594 shares in the company, valued at $187,675.90. The trade was a 31.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Judd Jessup sold 7,076 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the transaction, the director directly owned 115,045 shares of the company’s stock, valued at $8,851,562.30. This represents a 5.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,497 shares of company stock worth $1,056,162 over the last quarter. Insiders own 44.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. Wall Street Zen downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

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.