AlphaQuest LLC Increases Position in CorVel Co. (NASDAQ:CRVL)

AlphaQuest LLC increased its position in CorVel Co. (NASDAQ:CRVL) by 37.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,953 shares of the business services provider’s stock after acquiring an additional 1,357 shares during the period. AlphaQuest LLC’s holdings in CorVel were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRVL. Atria Investments Inc increased its holdings in shares of CorVel by 8.6% in the third quarter. Atria Investments Inc now owns 4,234 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 335 shares during the period. Axxcess Wealth Management LLC acquired a new position in CorVel in the 3rd quarter worth approximately $256,000. Crossmark Global Holdings Inc. purchased a new position in CorVel during the 3rd quarter worth approximately $298,000. Quest Partners LLC raised its position in CorVel by 95.1% during the 3rd quarter. Quest Partners LLC now owns 3,596 shares of the business services provider’s stock worth $1,175,000 after buying an additional 1,753 shares during the last quarter. Finally, Premier Fund Managers Ltd acquired a new stake in CorVel during the 3rd quarter valued at approximately $918,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Buying and Selling at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now directly owns 314,000 shares in the company, valued at $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Hoops sold 10,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now owns 118,213 shares in the company, valued at $13,758,811.07. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,200 shares of company stock valued at $3,824,115. Corporate insiders own 47.57% of the company’s stock.

CorVel Stock Performance

NASDAQ CRVL opened at $106.65 on Friday. The firm has a market capitalization of $5.48 billion, a P/E ratio of 62.74 and a beta of 1.06. The stock has a 50-day simple moving average of $112.21 and a two-hundred day simple moving average of $114.07. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61.

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

Analysts Set New Price Targets

Separately, StockNews.com cut shares of CorVel from a “buy” rating to a “hold” rating in a report on Thursday.

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.