Voleon Capital Management LP Sells 2,418 Shares of CorVel Corp. $CRVL

Voleon Capital Management LP trimmed its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 31.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,182 shares of the business services provider’s stock after selling 2,418 shares during the quarter. Voleon Capital Management LP’s holdings in CorVel were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRVL. Principal Financial Group Inc. grew its stake in shares of CorVel by 2.7% during the first quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider’s stock worth $16,085,000 after buying an additional 3,818 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of CorVel by 230.2% during the 4th quarter. Janus Henderson Group PLC now owns 136,908 shares of the business services provider’s stock valued at $15,233,000 after acquiring an additional 95,445 shares in the last quarter. Algert Global LLC grew its position in CorVel by 5.6% during the 1st quarter. Algert Global LLC now owns 103,079 shares of the business services provider’s stock worth $11,542,000 after acquiring an additional 5,430 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in CorVel by 234.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,606 shares of the business services provider’s stock worth $10,415,000 after purchasing an additional 65,620 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in CorVel by 27.4% in the first quarter. Public Sector Pension Investment Board now owns 86,307 shares of the business services provider’s stock valued at $9,664,000 after purchasing an additional 18,576 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insiders Place Their Bets

In other CorVel news, insider Maxim Shishin sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $89.16, for a total transaction of $1,069,920.00. Following the completion of the transaction, the insider owned 7,050 shares in the company, valued at approximately $628,578. This trade represents a 62.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 44.56% of the company’s stock.

CorVel Trading Down 3.1%

Shares of CRVL opened at $87.56 on Wednesday. The company has a market capitalization of $4.49 billion, a PE ratio of 45.13 and a beta of 0.96. CorVel Corp. has a 12 month low of $84.68 and a 12 month high of $128.61. The stock’s 50-day moving average price is $91.55 and its two-hundred day moving average price is $103.33.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th.

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.