Versor Investments LP Makes New Investment in CorVel Corp. $CRVL

Key Points

• Versor Investments LP has acquired a new stake in CorVel Corp., purchasing 4,200 shares valued at approximately $470,000.
• Several other institutional investors have also increased their holdings, including Principal Financial Group, which now owns over 143,000 shares after a 2.7% increase.
• CorVel Corp. reported $0.52 EPS for the recent quarter, with a market cap of $4.56 billion and significant ownership by institutional investors at 51.36%.

Versor Investments LP purchased a new stake in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,200 shares of the business services provider's stock, valued at approximately $470,000.

A number of other large investors have also recently added to or reduced their stakes in CRVL. Dimensional Fund Advisors LP lifted its position in CorVel by 187.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,545,619 shares of the business services provider's stock valued at $171,969,000 after purchasing an additional 1,007,651 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $69,607,000 after buying an additional 415,939 shares during the period. Northern Trust Corp increased its stake in CorVel by 210.8% during the 4th quarter. Northern Trust Corp now owns 379,743 shares of the business services provider's stock valued at $42,250,000 after buying an additional 257,561 shares during the period. Principal Financial Group Inc. increased its stake in CorVel by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 143,654 shares of the business services provider's stock valued at $16,085,000 after buying an additional 3,818 shares during the period. Finally, Janus Henderson Group PLC increased its stake in CorVel by 230.2% during the 4th quarter. Janus Henderson Group PLC now owns 136,908 shares of the business services provider's stock valued at $15,233,000 after buying an additional 95,445 shares during the period. 51.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CorVel news, CFO Brandon O'brien sold 3,957 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $108.46, for a total value of $429,176.22. Following the completion of the transaction, the chief financial officer directly owned 11,804 shares in the company, valued at $1,280,261.84. This trade represents a 25.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan Hoops sold 3,000 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $113.05, for a total transaction of $339,150.00. Following the completion of the transaction, the director owned 16,688 shares of the company's stock, valued at approximately $1,886,578.40. The trade was a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,079 shares of company stock worth $2,515,943. 44.56% of the stock is owned by insiders.

CorVel Stock Down 2.6%

CorVel stock traded down $2.3750 during trading hours on Monday, hitting $90.2650. 52,620 shares of the company traded hands, compared to its average volume of 133,796. The firm has a market cap of $4.63 billion, a P/E ratio of 46.53 and a beta of 0.95. The firm's 50-day simple moving average is $95.04 and its two-hundred day simple moving average is $105.60. CorVel Corp. has a 1-year low of $85.13 and a 1-year high of $128.61.

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

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.