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

Squarepoint Ops LLC increased its holdings in shares of CorVel Corp. (NASDAQ:CRVL) by 96.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,380 shares of the business services provider’s stock after buying an additional 20,310 shares during the quarter. Squarepoint Ops LLC owned 0.08% of CorVel worth $4,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in CorVel during the second quarter worth about $34,418,000. Thrivent Financial for Lutherans grew its holdings in shares of CorVel by 187.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 400,003 shares of the business services provider’s stock valued at $41,112,000 after purchasing an additional 261,049 shares during the last quarter. Assenagon Asset Management S.A. increased its position in CorVel by 720.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 102,478 shares of the business services provider’s stock worth $10,533,000 after purchasing an additional 89,994 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in CorVel by 249.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock valued at $12,066,000 after purchasing an additional 83,757 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in CorVel by 23,616.8% in the 1st quarter. Jones Financial Companies Lllp now owns 78,977 shares of the business services provider’s stock valued at $8,843,000 after purchasing an additional 78,644 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed 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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Insider Activity

In related news, EVP Mark E. Bertels sold 1,200 shares of the company’s stock in a transaction that occurred 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 directly owned 2,594 shares in the company, valued at $187,675.90. This represents a 31.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R Judd Jessup sold 7,076 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $76.94, for a total transaction of $544,427.44. Following the sale, the director directly owned 115,045 shares of the company’s stock, valued at $8,851,562.30. This represents a 5.79% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 11,733 shares of company stock valued at $894,686. Insiders own 44.56% of the company’s stock.

CorVel Stock Performance

Shares of NASDAQ:CRVL opened at $70.81 on Tuesday. CorVel Corp. has a 52 week low of $66.49 and a 52 week high of $128.61. The firm has a market cap of $3.63 billion, a PE ratio of 34.88 and a beta of 1.09. The firm’s fifty day moving average is $73.07 and its 200-day moving average is $85.79.

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

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.