Balyasny Asset Management L.P. Acquires 7,500 Shares of CorVel Co. (NASDAQ:CRVL)

Balyasny Asset Management L.P. increased its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 133.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,123 shares of the business services provider's stock after acquiring an additional 7,500 shares during the quarter. Balyasny Asset Management L.P.'s holdings in CorVel were worth $1,460,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank of America Corp DE lifted its position in CorVel by 139.9% during the 4th quarter. Bank of America Corp DE now owns 41,787 shares of the business services provider's stock worth $4,649,000 after buying an additional 24,365 shares in the last quarter. Bearing Point Capital LLC bought a new stake in CorVel during the 4th quarter worth approximately $1,335,000. Benjamin Edwards Inc. bought a new position in shares of CorVel during the 4th quarter worth approximately $220,000. Ameriprise Financial Inc. grew its stake in shares of CorVel by 182.1% during the 4th quarter. Ameriprise Financial Inc. now owns 76,228 shares of the business services provider's stock worth $8,481,000 after acquiring an additional 49,206 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in shares of CorVel by 202.5% in the 4th quarter. Algert Global LLC now owns 97,649 shares of the business services provider's stock valued at $10,864,000 after buying an additional 65,365 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised CorVel from a "hold" rating to a "buy" rating in a report on Friday, April 18th.

CorVel Stock Performance

Shares of NASDAQ CRVL traded up $3.68 during mid-day trading on Friday, reaching $113.71. The company had a trading volume of 146,526 shares, compared to its average volume of 119,793. CorVel Co. has a one year low of $76.53 and a one year high of $128.61. The business's 50-day simple moving average is $111.20 and its 200 day simple moving average is $116.35. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 66.89 and a beta of 1.10.

Insider Activity

In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of the business's stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the transaction, the director now owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Hoops sold 10,200 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. This represents a 7.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,200 shares of company stock valued at $4,340,250. 47.57% of the stock is currently owned by corporate insiders.

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.