Squarepoint Ops LLC Has $4.25 Million Stake in CorVel Corp. $CRVL

Squarepoint Ops LLC raised its position in shares of CorVel Corp. (NASDAQ:CRVL) by 96.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,380 shares of the business services provider’s stock after acquiring an additional 20,310 shares during the quarter. Squarepoint Ops LLC’s holdings in CorVel were worth $4,253,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRVL. LPL Financial LLC lifted its stake in shares of CorVel by 5.0% in the 1st quarter. LPL Financial LLC now owns 11,351 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 544 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in CorVel in the first quarter worth approximately $522,000. Nuveen LLC bought a new stake in CorVel in the first quarter worth approximately $8,533,000. Russell Investments Group Ltd. lifted its stake in CorVel by 44.7% in the first quarter. Russell Investments Group Ltd. now owns 74,730 shares of the business services provider’s stock valued at $8,368,000 after buying an additional 23,095 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of CorVel by 4.1% during the 1st quarter. American Century Companies Inc. now owns 14,400 shares of the business services provider’s stock worth $1,612,000 after buying an additional 568 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CorVel

In related news, Director R Judd Jessup sold 7,076 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $76.94, for a total transaction of $544,427.44. Following the completion of the sale, the director directly owned 115,045 shares of the company’s stock, valued at approximately $8,851,562.30. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark E. Bertels sold 1,200 shares of CorVel stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $72.35, for a total value of $86,820.00. Following the sale, the executive vice president owned 2,594 shares in the company, valued at $187,675.90. This trade represents a 31.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 11,733 shares of company stock worth $894,686 over the last three months. 44.56% of the stock is owned by insiders.

CorVel Trading Up 1.3%

Shares of CorVel stock opened at $70.81 on Tuesday. The company has a market capitalization of $3.63 billion, a P/E ratio of 34.88 and a beta of 1.09. The stock has a fifty day simple moving average of $73.07 and a 200 day simple moving average of $85.79. CorVel Corp. has a 12-month low of $66.49 and a 12-month high of $128.61.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 earnings per share for the quarter. The business had revenue of $239.64 million for the quarter. CorVel had a return on equity of 31.72% and a net margin of 11.28%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CorVel in a research report on Tuesday, October 14th. Wall Street Zen lowered shares of CorVel from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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.