State of New Jersey Common Pension Fund D Makes New Investment in CorVel Co. (NASDAQ:CRVL)

State of New Jersey Common Pension Fund D bought a new stake in shares of CorVel Co. (NASDAQ:CRVL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,617 shares of the business services provider’s stock, valued at approximately $1,937,000.

Several other hedge funds have also recently made changes to their positions in CRVL. Texas Permanent School Fund Corp increased its position in CorVel by 15.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 9,137 shares of the business services provider’s stock valued at $2,323,000 after purchasing an additional 1,208 shares during the period. Quest Partners LLC increased its position in shares of CorVel by 184,200.0% during the second quarter. Quest Partners LLC now owns 1,843 shares of the business services provider’s stock valued at $469,000 after buying an additional 1,842 shares during the period. Arizona State Retirement System raised its stake in CorVel by 1.8% in the second quarter. Arizona State Retirement System now owns 2,632 shares of the business services provider’s stock worth $669,000 after buying an additional 46 shares in the last quarter. Rhumbline Advisers lifted its holdings in CorVel by 1.1% in the second quarter. Rhumbline Advisers now owns 28,023 shares of the business services provider’s stock worth $7,125,000 after buying an additional 307 shares during the period. Finally, Farther Finance Advisors LLC purchased a new stake in CorVel in the second quarter worth about $318,000. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Trading Up 0.3 %

Shares of CRVL stock opened at $317.30 on Friday. The company’s fifty day moving average price is $305.42 and its 200-day moving average price is $268.78. The stock has a market cap of $5.45 billion, a PE ratio of 72.11 and a beta of 1.08. CorVel Co. has a 12 month low of $187.92 and a 12 month high of $325.00.

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

Insider Activity at CorVel

In other news, VP Jennifer Yoss sold 1,214 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $300.88, for a total value of $365,268.32. Following the sale, the vice president now directly owns 680 shares of the company’s stock, valued at $204,598.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Jennifer Yoss sold 1,214 shares of CorVel stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $300.88, for a total value of $365,268.32. Following the completion of the transaction, the vice president now owns 680 shares of the company’s stock, valued at approximately $204,598.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Corstar Holdings Inc sold 23,429 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $264.90, for a total transaction of $6,206,342.10. Following the sale, the insider now directly owns 6,309,958 shares in the company, valued at $1,671,507,874.20. The disclosure for this sale can be found here. Insiders sold a total of 72,431 shares of company stock valued at $19,961,847 in the last 90 days. Corporate insiders own 47.57% of the company’s stock.

Analyst Ratings Changes

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

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.