Squarepoint Ops LLC Sells 10,191 Shares of CorVel Corp. $CRVL

Squarepoint Ops LLC lessened its holdings in CorVel Corp. (NASDAQ:CRVL) by 42.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 14,000 shares of the business services provider’s stock after selling 10,191 shares during the period. Squarepoint Ops LLC’s holdings in CorVel were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CRVL. BlackRock Inc. purchased a new position in CorVel during the second quarter worth $321,316,000. Norges Bank bought a new stake in shares of CorVel in the 4th quarter worth about $29,250,000. Algert Global LLC boosted its stake in shares of CorVel by 67.0% during the 2nd quarter. Algert Global LLC now owns 383,419 shares of the business services provider’s stock worth $23,971,000 after purchasing an additional 153,877 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of CorVel by 14.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 197,858 shares of the business services provider’s stock worth $10,813,000 after purchasing an additional 25,366 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in CorVel by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 184,425 shares of the business services provider’s stock valued at $10,079,000 after purchasing an additional 847 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRVL. Wall Street Zen raised CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings upgraded CorVel from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Insider Activity at CorVel

In other news, Director R. Jessup sold 4,023 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $70.07, for a total transaction of $281,891.61. Following the transaction, the director owned 111,798 shares in the company, valued at $7,833,685.86. This trade represents a 3.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jennifer Yoss sold 2,100 shares of CorVel stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $70.92, for a total transaction of $148,932.00. Following the completion of the sale, the vice president owned 2,173 shares in the company, valued at approximately $154,109.16. This trade represents a 49.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 8,947 shares of company stock worth $630,420. Insiders own 39.72% of the company’s stock.

CorVel Stock Up 0.2%

Shares of CorVel stock opened at $70.67 on Friday. The company has a 50 day moving average price of $65.49 and a 200 day moving average price of $60.37. The firm has a market capitalization of $3.60 billion, a P/E ratio of 31.41 and a beta of 0.97. CorVel Corp. has a 52 week low of $44.83 and a 52 week high of $83.13.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 EPS for the quarter. The business had revenue of $259.93 million for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%.

CorVel Company Profile

CorVel Corporation is a provider of workers’ compensation and liability claims management services. The company supports employers, insurance carriers, government entities and other organizations with technology-enabled solutions designed to manage claims, control costs and coordinate medical care.

Its services include third-party claims administration, medical bill review, utilization review, case management, pharmacy benefit management, provider-network services and claims-related analytics.