Millennium Management LLC grew its stake in shares of CorVel Co. (NASDAQ:CRVL) by 380.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,418 shares of the business services provider’s stock after acquiring an additional 38,349 shares during the period. Millennium Management LLC owned 0.26% of CorVel worth $2,988,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in shares of CorVel during the 4th quarter valued at $25,000. Acadian Asset Management LLC grew its holdings in shares of CorVel by 148.0% during the 4th quarter. Acadian Asset Management LLC now owns 2,351 shares of the business services provider’s stock valued at $146,000 after acquiring an additional 1,403 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of CorVel during the 4th quarter valued at $167,000. Oppenheimer Asset Management Inc. purchased a new position in shares of CorVel during the 4th quarter valued at $178,000. Finally, Menta Capital LLC purchased a new position in shares of CorVel during the 4th quarter valued at $201,000. Institutional investors and hedge funds own 48.60% of the company’s stock.
CRVL stock opened at $67.46 on Friday. CorVel Co. has a 1 year low of $48.63 and a 1 year high of $70.73. The firm has a market capitalization of $1.26 billion, a P/E ratio of 29.33 and a beta of 0.69.
In related news, major shareholder Corstar Holdings Inc sold 27,513 shares of CorVel stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $65.70, for a total value of $1,807,604.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Maxim Shishin sold 1,150 shares of CorVel stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $66.53, for a total transaction of $76,509.50. Following the completion of the sale, the insider now directly owns 400 shares of the company’s stock, valued at approximately $26,612. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,430 shares of company stock valued at $7,649,363. 51.40% of the stock is owned by company insiders.
Separately, BidaskClub lowered shares of CorVel from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 11th.
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CorVel Company Profile
CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.
Further Reading: How mutual funds make money
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