AQR Capital Management LLC Grows Stock Position in CorVel Co. (NASDAQ:CRVL)

AQR Capital Management LLC boosted its stake in shares of CorVel Co. (NASDAQ:CRVL) by 5.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,456 shares of the business services provider’s stock after purchasing an additional 449 shares during the quarter. AQR Capital Management LLC’s holdings in CorVel were worth $2,150,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC increased its stake in shares of CorVel by 997.8% during the first quarter. Janus Henderson Group PLC now owns 46,975 shares of the business services provider’s stock worth $12,351,000 after buying an additional 42,696 shares during the period. Quadrature Capital Ltd purchased a new position in CorVel in the fourth quarter valued at approximately $887,000. SG Americas Securities LLC acquired a new stake in CorVel during the first quarter worth approximately $896,000. Sei Investments Co. lifted its position in shares of CorVel by 65.8% during the 1st quarter. Sei Investments Co. now owns 21,003 shares of the business services provider’s stock worth $5,523,000 after buying an additional 8,338 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of CorVel by 41.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider’s stock valued at $29,464,000 after buying an additional 34,155 shares in the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Insider Activity at CorVel

In other CorVel news, Director R Judd Jessup sold 2,131 shares of CorVel stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $295.21, for a total value of $629,092.51. Following the transaction, the director now directly owns 43,277 shares in the company, valued at approximately $12,775,803.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CorVel news, Director R Judd Jessup sold 2,131 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $295.21, for a total transaction of $629,092.51. Following the completion of the sale, the director now directly owns 43,277 shares of the company’s stock, valued at approximately $12,775,803.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Corstar Holdings Inc sold 23,429 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $264.90, for a total value of $6,206,342.10. Following the completion of the transaction, the insider now directly owns 6,309,958 shares in the company, valued at approximately $1,671,507,874.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,782 shares of company stock worth $17,178,624 in the last 90 days. 47.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

CorVel Stock Performance

CorVel stock opened at $312.79 on Wednesday. The company has a market capitalization of $5.37 billion, a P/E ratio of 71.21 and a beta of 1.08. CorVel Co. has a fifty-two week low of $187.92 and a fifty-two week high of $329.23. The stock has a 50-day simple moving average of $311.40 and a 200-day simple moving average of $274.88.

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

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.