Magnetar Financial LLC Takes $314,000 Position in CorVel Corp. $CRVL

Magnetar Financial LLC acquired a new position in shares of CorVel Corp. (NASDAQ:CRVL) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 3,057 shares of the business services provider’s stock, valued at approximately $314,000.

Several other hedge funds have also recently added to or reduced their stakes in CRVL. Meeder Asset Management Inc. purchased a new position in CorVel in the first quarter worth approximately $25,000. Hantz Financial Services Inc. purchased a new stake in shares of CorVel in the 2nd quarter valued at approximately $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CorVel in the 2nd quarter valued at $37,000. Blue Trust Inc. lifted its position in shares of CorVel by 235.4% during the 2nd quarter. Blue Trust Inc. now owns 550 shares of the business services provider’s stock worth $57,000 after purchasing an additional 386 shares during the last quarter. Finally, Ethic Inc. acquired a new position in shares of CorVel during the second quarter worth $200,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Wall Street Analysts Forecast Growth

CRVL has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of CorVel in a research note on Tuesday, October 14th. Wall Street Zen downgraded CorVel from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel currently has a consensus rating of “Hold”.

Insider Transactions at CorVel

In other news, CFO Brandon O’brien sold 1,764 shares of CorVel stock in a transaction on Monday, September 8th. The shares were sold at an average price of $91.54, for a total value of $161,476.56. Following the transaction, the chief financial officer directly owned 8,948 shares of the company’s stock, valued at $819,099.92. The trade was a 16.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark E. Bertels sold 1,200 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $72.35, for a total transaction of $86,820.00. Following the sale, the executive vice president owned 2,594 shares of the company’s stock, valued at approximately $187,675.90. This represents a 31.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,497 shares of company stock worth $1,056,162. Insiders own 44.56% of the company’s stock.

CorVel Price Performance

Shares of CRVL opened at $74.33 on Wednesday. CorVel Corp. has a 1-year low of $70.47 and a 1-year high of $128.61. The stock has a market cap of $3.81 billion, a PE ratio of 38.31 and a beta of 0.98. The firm has a fifty day moving average price of $75.06 and a 200 day moving average price of $89.88.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported $0.54 earnings per share (EPS) for the quarter. CorVel had a return on equity of 32.31% and a net margin of 10.98%.The company had revenue of $239.64 million for the quarter.

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.