Balyasny Asset Management L.P. Has $1.46 Million Stock Position in CorVel Co. (NASDAQ:CRVL)

Balyasny Asset Management L.P. raised its stake in shares of CorVel Co. (NASDAQ:CRVL) by 133.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,123 shares of the business services provider’s stock after purchasing an additional 7,500 shares during the quarter. Balyasny Asset Management L.P.’s holdings in CorVel were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CRVL. Fifth Third Bancorp grew its position in CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock worth $36,000 after acquiring an additional 101 shares during the last quarter. LGT Financial Advisors LLC grew its position in CorVel by 200.0% during the 4th quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock worth $28,000 after acquiring an additional 170 shares during the last quarter. Franklin Resources Inc. grew its position in CorVel by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock worth $614,000 after acquiring an additional 173 shares during the last quarter. Bessemer Group Inc. grew its position in CorVel by 6,350.0% during the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock worth $29,000 after acquiring an additional 254 shares during the last quarter. Finally, US Bancorp DE grew its position in CorVel by 225.4% during the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after acquiring an additional 266 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CorVel

In other news, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $116.39, for a total value of $1,187,178.00. Following the transaction, the director now directly owns 118,213 shares in the company, valued at $13,758,811.07. This trade represents a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the completion of the transaction, the director now owns 568,310 shares in the company, valued at $66,179,699.50. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,200 shares of company stock worth $4,340,250. Insiders own 47.57% of the company’s stock.

CorVel Stock Performance

Shares of CRVL opened at $114.32 on Wednesday. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 67.25 and a beta of 1.10. The business’s fifty day moving average price is $110.92 and its two-hundred day moving average price is $116.24. CorVel Co. has a 52 week low of $76.53 and a 52 week high of $128.61.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Friday, April 18th.

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.