Stevens Capital Management LP Raises Stake in CorVel Corp. (CRVL)
Stevens Capital Management LP lifted its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,292 shares of the business services provider’s stock after acquiring an additional 200 shares during the quarter. Stevens Capital Management LP’s holdings in CorVel Corp. were worth $251,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan raised its stake in shares of CorVel Corp. by 3.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 2,310 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 80 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of CorVel Corp. by 57.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,061 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 1,121 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of CorVel Corp. by 339.3% in the second quarter. Acadian Asset Management LLC now owns 3,857 shares of the business services provider’s stock valued at $184,000 after purchasing an additional 2,979 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of CorVel Corp. by 17.7% in the second quarter. Victory Capital Management Inc. now owns 4,248 shares of the business services provider’s stock valued at $202,000 after purchasing an additional 638 shares during the period. Finally, Marshall Wace North America L.P. bought a new position in CorVel Corp. in the second quarter worth approximately $273,000. 44.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of CorVel Corp. (NASDAQ CRVL) opened at 54.40 on Monday. The company has a 50-day moving average of $50.43 and a 200-day moving average of $46.45. CorVel Corp. has a 1-year low of $31.00 and a 1-year high of $55.95. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 34.26 and a beta of 0.79.
CorVel Corp. (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, August 1st. The business services provider reported $0.46 EPS for the quarter. CorVel Corp. had a return on equity of 21.72% and a net margin of 5.83%. The company had revenue of $137.61 million for the quarter. On average, equities research analysts expect that CorVel Corp. will post $2.56 EPS for the current fiscal year.
Separately, BidaskClub raised CorVel Corp. from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th.
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CorVel Corp. Company Profile
CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.
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