Voleon Capital Management LP Buys New Stake in CorVel Co. (NASDAQ:CRVL)

Voleon Capital Management LP purchased a new stake in CorVel Co. (NASDAQ:CRVL - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 7,600 shares of the business services provider's stock, valued at approximately $846,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CRVL. Northern Trust Corp lifted its stake in CorVel by 210.8% in the fourth 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 in the last quarter. The Manufacturers Life Insurance Company increased its holdings in CorVel by 192.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,867 shares of the business services provider's stock worth $1,654,000 after purchasing an additional 9,785 shares in the last quarter. Tudor Investment Corp ET AL lifted its holdings in shares of CorVel by 175.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 49,533 shares of the business services provider's stock valued at $5,511,000 after purchasing an additional 31,523 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in CorVel by 6,621.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 85,434 shares of the business services provider's stock valued at $9,505,000 after buying an additional 84,163 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of CorVel during the 4th quarter worth about $256,000. Institutional investors own 51.36% of the company's stock.

Wall Street Analyst Weigh In

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

CorVel Stock Performance

Shares of CRVL stock traded up $1.04 on Wednesday, hitting $112.37. The company had a trading volume of 11,965 shares, compared to its average volume of 119,149. CorVel Co. has a twelve month low of $76.53 and a twelve month high of $128.61. The stock's 50-day moving average is $110.47 and its two-hundred day moving average is $115.85. The firm has a market cap of $5.77 billion, a P/E ratio of 65.99 and a beta of 1.10.

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Transactions at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 16,523 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $116.99, for a total value of $1,933,025.77. Following the completion of the sale, the director now owns 551,787 shares in the company, valued at approximately $64,553,561.13. The trade was a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total transaction of $1,187,178.00. Following the completion of the sale, the director now directly owns 118,213 shares in the company, valued at approximately $13,758,811.07. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,723 shares of company stock worth $5,757,140 in the last 90 days. Insiders own 47.57% of the company's stock.

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.