Quantbot Technologies LP Purchases Shares of 8,292 CorVel Corp. $CRVL

Key Points

• Quantbot Technologies LP has purchased a new position in CorVel Corp., acquiring 8,292 shares valued at approximately $928,000.
• Insider transactions include Director Alan Hoops and CFO Brandon O'Brien selling a total of 6,957 shares worth over $768,000 in recent months, reflecting a significant decrease in their ownership.
• CorVel Corp. reported a quarterly earnings per share (EPS) of $0.52, with a market capitalization of $4.75 billion and a net margin of 10.98%.

Quantbot Technologies LP purchased a new position in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,292 shares of the business services provider's stock, valued at approximately $928,000.

Several other institutional investors also recently modified their holdings of CRVL. Price T Rowe Associates Inc. MD grew its position in shares of CorVel by 198.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 625,612 shares of the business services provider's stock worth $69,607,000 after buying an additional 415,939 shares during the period. Northern Trust Corp grew its position in shares of CorVel by 210.8% during the 4th quarter. Northern Trust Corp now owns 379,743 shares of the business services provider's stock worth $42,250,000 after buying an additional 257,561 shares during the period. Janus Henderson Group PLC grew its position 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 worth $15,233,000 after buying an additional 95,445 shares during the period. Public Employees Retirement Association of Colorado grew its position in shares of CorVel by 6,621.8% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 85,434 shares of the business services provider's stock worth $9,505,000 after buying an additional 84,163 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of CorVel by 17,654.4% during the 1st quarter. GAMMA Investing LLC now owns 76,699 shares of the business services provider's stock worth $8,588,000 after buying an additional 76,267 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

CorVel Stock Down 0.8%

CorVel stock traded down $0.69 during midday trading on Tuesday, hitting $89.76. 151,257 shares of the stock were exchanged, compared to its average volume of 153,483. The company has a fifty day simple moving average of $94.53 and a two-hundred day simple moving average of $105.31. CorVel Corp. has a 52 week low of $85.13 and a 52 week high of $128.61. The stock has a market capitalization of $4.61 billion, a PE ratio of 46.27 and a beta of 0.95.

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

Insider Activity

In related news, VP Jennifer Yoss sold 1,050 shares of CorVel stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total transaction of $116,959.50. Following the transaction, the vice president owned 2,088 shares of the company's stock, valued at $232,582.32. This trade represents a 33.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Judd Jessup sold 687 shares of CorVel stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $111.25, for a total transaction of $76,428.75. Following the transaction, the director directly owned 128,832 shares in the company, valued at $14,332,560. The trade was a 0.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,244 shares of company stock worth $1,968,664 over the last quarter. 44.56% of the stock is owned by insiders.

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.