XTX Topco Ltd Invests $454,000 in CorVel Corp. (NASDAQ:CRVL)

Key Points

• XTX Topco Ltd acquired 4,052 shares of CorVel Corp., valued at approximately $454,000, during the first quarter, highlighting institutional interest in the company.
• CorVel's shares were recently upgraded from a "hold" to a "buy" rating by analysts at Wall Street Zen, indicating positive market sentiment.
• The company's stock has seen a 3.1% decline recently and has a market capitalization of $4.40 billion, with a PE ratio of 44.10.

XTX Topco Ltd bought a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,052 shares of the business services provider's stock, valued at approximately $454,000.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in shares of CorVel in the 1st quarter worth $25,000. LGT Financial Advisors LLC lifted its stake in shares of CorVel by 200.0% in the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider's stock worth $28,000 after acquiring an additional 170 shares during the period. Bessemer Group Inc. lifted its stake in shares of CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider's stock worth $29,000 after acquiring an additional 254 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of CorVel in the 1st quarter worth $28,000. Finally, Federated Hermes Inc. lifted its stake in shares of CorVel by 154.9% in the 4th quarter. Federated Hermes Inc. now owns 492 shares of the business services provider's stock worth $55,000 after acquiring an additional 299 shares during the period. Institutional investors and hedge funds own 51.36% of the company's stock.

CorVel Stock Up 1.2%

Shares of NASDAQ CRVL traded up $1.04 during midday trading on Tuesday, hitting $88.51. The company had a trading volume of 23,940 shares, compared to its average volume of 133,089. CorVel Corp. has a twelve month low of $85.13 and a twelve month high of $128.61. The business has a 50-day simple moving average of $98.45 and a two-hundred day simple moving average of $107.44. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 45.65 and a beta of 0.95.

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

Insider Transactions at CorVel

In other CorVel news, insider Maxim Shishin sold 2,400 shares of the firm's 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 directly owned 7,050 shares in the company, valued at approximately $762,034.50. This trade represents a 25.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $429,176.22. Following the transaction, the chief financial officer owned 11,804 shares of the company's stock, valued at $1,280,261.84. This trade represents a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,079 shares of company stock valued at $1,446,023. 44.56% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.