Assenagon Asset Management S.A. Makes New Investment in CorVel Corp. (NASDAQ:CRVL)

Assenagon Asset Management S.A. purchased a new stake 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 fund purchased 12,484 shares of the business services provider's stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRVL. Allspring Global Investments Holdings LLC lifted its position in CorVel by 32,000.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,247 shares of the business services provider's stock valued at $245,000 after acquiring an additional 2,240 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of CorVel by 200.0% in the fourth quarter. New York State Teachers Retirement System now owns 26,172 shares of the business services provider's stock valued at $2,912,000 after buying an additional 17,448 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of CorVel by 210.6% in the fourth quarter. Rhumbline Advisers now owns 84,724 shares of the business services provider's stock valued at $9,426,000 after buying an additional 57,445 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of CorVel by 176.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 17,574 shares of the business services provider's stock valued at $1,955,000 after buying an additional 11,228 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of CorVel by 210.2% in the fourth quarter. Principal Financial Group Inc. now owns 139,836 shares of the business services provider's stock valued at $15,558,000 after buying an additional 94,751 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Maxim Shishin sold 2,400 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $108.09, for a total transaction of $259,416.00. Following the completion of the transaction, the insider now directly owns 7,050 shares of the company's stock, valued at $762,034.50. This represents a 25.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey J. Michael sold 16,523 shares of the 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 transaction, the director now directly owns 551,787 shares of the company's stock, valued at $64,553,561.13. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,602 shares of company stock valued at $3,379,049. Insiders own 47.57% of the company's stock.

CorVel Price Performance

Shares of NASDAQ:CRVL traded down $0.39 on Friday, reaching $102.11. The company's stock had a trading volume of 180,794 shares, compared to its average volume of 119,739. The stock's 50-day moving average is $110.65 and its two-hundred day moving average is $115.09. CorVel Corp. has a 52-week low of $81.46 and a 52-week high of $128.61. The stock has a market capitalization of $5.24 billion, a P/E ratio of 55.60 and a beta of 1.02.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. CorVel had a net margin of 10.63% and a return on equity of 32.55%. The business had revenue of $231.51 million during the quarter.

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.