EntryPoint Capital LLC Makes New $787,000 Investment in CorVel Corp. $CRVL

Key Points

• EntryPoint Capital LLC acquired 7,033 shares of CorVel Corp. (NASDAQ: CRVL) in the first quarter, valued at approximately $787,000, making it the firm's 16th largest position.
• CorVel reported earnings of $0.52 per share for the last quarter, with a return on equity of 32.31% and a net margin of 10.98%.
• Insider trading activity included Director Alan Hoops selling 3,000 shares for about $339,150, reflecting a 15.24% decrease in his position.

EntryPoint Capital LLC bought a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,033 shares of the business services provider's stock, valued at approximately $787,000. CorVel comprises 0.4% of EntryPoint Capital LLC's holdings, making the stock its 16th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its position in CorVel by 201.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 48,447 shares of the business services provider's stock worth $5,390,000 after purchasing an additional 32,386 shares during the period. Barclays PLC lifted its stake in shares of CorVel by 209.3% during the 4th quarter. Barclays PLC now owns 49,409 shares of the business services provider's stock valued at $5,497,000 after buying an additional 33,432 shares in the last quarter. Mariner LLC lifted its stake in shares of CorVel by 214.3% during the 4th quarter. Mariner LLC now owns 2,637 shares of the business services provider's stock valued at $293,000 after buying an additional 1,798 shares in the last quarter. Walleye Capital LLC bought a new stake in CorVel during the 4th quarter valued at $730,000. Finally, Marshall Wace LLP bought a new position in shares of CorVel in the fourth quarter worth $671,000. 51.36% of the stock is currently owned by institutional investors.

Insider Transactions at CorVel

In other CorVel news, Director R Judd Jessup sold 687 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $111.25, for a total value of $76,428.75. Following the completion of the transaction, the director owned 128,832 shares of the company's stock, valued at $14,332,560. The trade was a 0.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark E. Bertels sold 900 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $113.34, for a total transaction of $102,006.00. Following the completion of the transaction, the executive vice president directly owned 2,586 shares in the company, valued at $293,097.24. The trade was a 25.82% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,079 shares of company stock worth $2,515,943. 44.56% of the stock is owned by insiders.

CorVel Trading Down 2.5%

Shares of NASDAQ CRVL traded down $2.34 during mid-day trading on Monday, hitting $90.30. The company had a trading volume of 21,958 shares, compared to its average volume of 133,640. CorVel Corp. has a 1 year low of $85.13 and a 1 year high of $128.61. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 46.59 and a beta of 0.95. The stock's 50-day moving average price is $95.04 and its 200-day moving average price is $105.60.

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

CorVel Company 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.