Squarepoint Ops LLC Takes Position in CorVel Co. (NASDAQ:CRVL)

Squarepoint Ops LLC purchased a new stake in CorVel Co. (NASDAQ:CRVL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,416 shares of the business services provider's stock, valued at approximately $269,000.

Other hedge funds also recently made changes to their positions in the company. LGT Financial Advisors LLC increased its position in CorVel by 200.0% during the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock valued at $28,000 after purchasing an additional 170 shares during the period. Bessemer Group Inc. increased its position in shares of CorVel by 6,350.0% during the fourth quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after buying an additional 254 shares during the period. Jones Financial Companies Lllp bought a new position in CorVel during the fourth quarter worth $37,000. US Bancorp DE lifted its holdings in CorVel by 225.4% in the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider's stock valued at $43,000 after buying an additional 266 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in CorVel by 300.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 480 shares of the business services provider's stock valued at $53,000 after acquiring an additional 360 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors.

Insider Activity at CorVel

In other CorVel news, Director R Judd Jessup sold 935 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $113.50, for a total value of $106,122.50. Following the transaction, the director now directly owns 129,519 shares of the company's stock, valued at approximately $14,700,406.50. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey J. Michael sold 16,523 shares of the business's stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total transaction of $1,933,025.77. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders sold 23,245 shares of company stock valued at $2,690,457 in the last three months. Corporate insiders own 47.57% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a research report on Friday, April 18th.

CorVel Stock Up 0.1%

CRVL traded up $0.09 during trading on Tuesday, hitting $108.29. The company's stock had a trading volume of 182,924 shares, compared to its average volume of 120,177. The firm has a market capitalization of $5.56 billion, a P/E ratio of 63.70 and a beta of 1.02. CorVel Co. has a twelve month low of $76.67 and a twelve month high of $128.61. The stock's fifty day moving average price is $112.01 and its 200-day moving average price is $116.10.

CorVel (NASDAQ:CRVL - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $231.51 million for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

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.