Quest Partners LLC Raises Stake in CorVel Co. (NASDAQ:CRVL)

Quest Partners LLC grew its position in CorVel Co. (NASDAQ:CRVL) by 184,200.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,843 shares of the business services provider’s stock after purchasing an additional 1,842 shares during the quarter. Quest Partners LLC’s holdings in CorVel were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in CorVel by 997.8% in the 1st quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock valued at $12,351,000 after acquiring an additional 42,696 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of CorVel in the fourth quarter worth about $887,000. SG Americas Securities LLC bought a new position in CorVel during the first quarter valued at approximately $896,000. Sei Investments Co. grew its holdings in CorVel by 65.8% during the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock valued at $5,523,000 after buying an additional 8,338 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock worth $29,464,000 after acquiring an additional 34,155 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Stock Up 1.2 %

Shares of NASDAQ:CRVL opened at $304.54 on Friday. The firm has a fifty day simple moving average of $298.38 and a two-hundred day simple moving average of $265.52. The stock has a market capitalization of $5.23 billion, a P/E ratio of 69.21 and a beta of 1.08. CorVel Co. has a 52 week low of $187.92 and a 52 week high of $323.34.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, July 30th. The business services provider reported $1.25 earnings per share for the quarter. The company had revenue of $211.72 million for the quarter. CorVel had a return on equity of 32.25% and a net margin of 9.55%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

Insider Buying and Selling at CorVel

In related news, VP Jennifer Yoss sold 1,214 shares of CorVel stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $300.88, for a total transaction of $365,268.32. Following the completion of the transaction, the vice president now directly owns 680 shares of the company’s stock, valued at approximately $204,598.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other CorVel news, VP Jennifer Yoss sold 1,214 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $300.88, for a total transaction of $365,268.32. Following the completion of the transaction, the vice president now owns 680 shares in the company, valued at $204,598.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Corstar Holdings Inc sold 23,429 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $264.90, for a total value of $6,206,342.10. Following the transaction, the insider now directly owns 6,309,958 shares in the company, valued at approximately $1,671,507,874.20. The disclosure for this sale can be found here. Insiders have sold 72,431 shares of company stock worth $19,961,847 over the last quarter. Insiders own 47.57% of the company’s stock.

CorVel Company 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.