Kapitalo Investimentos Ltda Buys New Position in CorVel Co. (NASDAQ:CRVL)

Kapitalo Investimentos Ltda purchased a new position in CorVel Co. (NASDAQ:CRVL) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 635 shares of the business services provider’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRVL. GAMMA Investing LLC grew its stake in shares of CorVel by 98.0% in the 2nd quarter. GAMMA Investing LLC now owns 97 shares of the business services provider’s stock worth $25,000 after purchasing an additional 48 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in CorVel by 474.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 178 shares of the business services provider’s stock worth $47,000 after buying an additional 147 shares during the last quarter. Aristides Capital LLC bought a new position in shares of CorVel in the second quarter valued at $210,000. Dark Forest Capital Management LP acquired a new stake in shares of CorVel during the 2nd quarter valued at $233,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of CorVel by 20.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 1,043 shares of the business services provider’s stock worth $274,000 after acquiring an additional 177 shares in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

CorVel Stock Performance

Shares of CRVL stock opened at $324.24 on Thursday. The stock’s 50 day simple moving average is $313.37 and its 200 day simple moving average is $277.51. CorVel Co. has a twelve month low of $187.92 and a twelve month high of $329.23. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 73.69 and a beta of 1.08.

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

Insider Buying and Selling

In related news, Director R Judd Jessup sold 2,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $311.60, for a total transaction of $779,000.00. Following the sale, the director now directly owns 40,777 shares in the company, valued at $12,706,113.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CorVel news, Director R Judd Jessup sold 2,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $311.60, for a total transaction of $779,000.00. Following the sale, the director now owns 40,777 shares of the company’s stock, valued at $12,706,113.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Yoss sold 1,214 shares of the business’s stock in a transaction dated 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 directly owns 680 shares of the company’s stock, valued at approximately $204,598.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,893 shares of company stock valued at $6,003,958 over the last quarter. Corporate insiders own 47.57% of the company’s stock.

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.