Bridgewater Associates LP Cuts Stock Holdings in CorVel Co. (NASDAQ:CRVL)

Bridgewater Associates LP lowered its stake in CorVel Co. (NASDAQ:CRVL - Free Report) by 27.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,151 shares of the business services provider's stock after selling 3,083 shares during the period. Bridgewater Associates LP's holdings in CorVel were worth $2,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in CorVel by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider's stock valued at $489,631,000 after purchasing an additional 21,673 shares during the period. Assenagon Asset Management S.A. increased its position in shares of CorVel by 41.8% during the second 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 during the period. Charles Schwab Investment Management Inc. increased its position in shares of CorVel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider's stock valued at $28,190,000 after buying an additional 6,061 shares during the period. Bank of New York Mellon Corp raised its stake in CorVel by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 73,617 shares of the business services provider's stock worth $18,719,000 after buying an additional 1,479 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in CorVel by 3.6% in the third quarter. Raymond James & Associates now owns 60,358 shares of the business services provider's stock worth $19,730,000 after buying an additional 2,110 shares during the period. Institutional investors own 51.36% of the company's stock.

CorVel Trading Up 1.1 %

CRVL traded up $4.01 during trading on Friday, reaching $365.40. The stock had a trading volume of 25,510 shares, compared to its average volume of 42,591. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 77.58 and a beta of 1.10. CorVel Co. has a one year low of $207.65 and a one year high of $381.73. The stock's 50 day moving average is $329.07 and its two-hundred day moving average is $298.13.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded CorVel from a "buy" rating to a "hold" rating in a report on Saturday, August 31st.

CorVel Profile

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.