Two Sigma Advisers LP Acquires 3,060 Shares of CorVel Co. (NASDAQ:CRVL)

Two Sigma Advisers LP grew its holdings in CorVel Co. (NASDAQ:CRVL - Free Report) by 90.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,440 shares of the business services provider's stock after buying an additional 3,060 shares during the quarter. Two Sigma Advisers LP's holdings in CorVel were worth $717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CRVL. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of CorVel by 158.0% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,450 shares of the business services provider's stock worth $161,000 after purchasing an additional 888 shares during the last quarter. ProShare Advisors LLC boosted its holdings in CorVel by 333.2% in the 4th quarter. ProShare Advisors LLC now owns 8,031 shares of the business services provider's stock worth $894,000 after acquiring an additional 6,177 shares during the period. Quantinno Capital Management LP increased its stake in CorVel by 39.8% during the 4th quarter. Quantinno Capital Management LP now owns 3,297 shares of the business services provider's stock worth $367,000 after buying an additional 938 shares during the period. Man Group plc increased its position in shares of CorVel by 162.1% during the fourth quarter. Man Group plc now owns 15,774 shares of the business services provider's stock worth $1,755,000 after acquiring an additional 9,756 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of CorVel by 116.6% in the 4th quarter. Nuveen Asset Management LLC now owns 75,621 shares of the business services provider's stock worth $8,414,000 after purchasing an additional 40,715 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

CorVel Stock Down 0.8%

NASDAQ CRVL traded down $0.92 on Thursday, hitting $110.44. The stock had a trading volume of 42,621 shares, compared to its average volume of 119,651. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 64.92 and a beta of 1.10. The company's 50-day moving average is $112.20 and its two-hundred day moving average is $116.38. CorVel Co. has a one year low of $76.53 and a one year high of $128.61.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director R Judd Jessup sold 687 shares of CorVel stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $111.25, for a total transaction of $76,428.75. Following the sale, the director now directly owns 128,832 shares of the company's stock, valued at $14,332,560. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey J. Michael sold 16,523 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the transaction, the director now directly owns 551,787 shares of the company's stock, valued at approximately $64,553,561.13. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,245 shares of company stock valued at $2,690,457 over the last three months. 47.57% of the stock is currently owned by 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.