Erste Asset Management GmbH Takes Position in CorVel Co. (NASDAQ:CRVL)

Erste Asset Management GmbH purchased a new stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,700 shares of the business services provider's stock, valued at approximately $545,000.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in CorVel by 41.8% in the second quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the business services provider's stock worth $29,464,000 after acquiring an additional 34,155 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in CorVel by 1.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,925,635 shares of the business services provider's stock worth $489,631,000 after acquiring an additional 21,673 shares in the last quarter. Intech Investment Management LLC purchased a new position in CorVel in the third quarter worth $2,797,000. State of New Jersey Common Pension Fund D purchased a new position in CorVel in the second quarter worth $1,937,000. Finally, Charles Schwab Investment Management Inc. grew its position in CorVel by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 86,236 shares of the business services provider's stock worth $28,190,000 after acquiring an additional 6,061 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

CorVel Price Performance

CorVel stock traded down $7.94 during mid-day trading on Thursday, hitting $351.86. The company's stock had a trading volume of 23,999 shares, compared to its average volume of 36,728. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 76.39 and a beta of 1.14. The business has a 50 day moving average price of $331.47 and a 200-day moving average price of $300.00. CorVel Co. has a 12 month low of $218.29 and a 12 month high of $381.73.

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.