Quest Partners LLC Buys 1,753 Shares of CorVel Co. (NASDAQ:CRVL)

Quest Partners LLC boosted its position in CorVel Co. (NASDAQ:CRVL - Free Report) by 95.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,596 shares of the business services provider's stock after acquiring an additional 1,753 shares during the period. Quest Partners LLC's holdings in CorVel were worth $1,175,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SkyView Investment Advisors LLC grew its stake in CorVel by 0.8% in the second quarter. SkyView Investment Advisors LLC now owns 4,284 shares of the business services provider's stock worth $1,089,000 after purchasing an additional 34 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in CorVel by 2.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,143 shares of the business services provider's stock worth $545,000 after buying an additional 46 shares in the last quarter. Arizona State Retirement System boosted its holdings in CorVel by 1.8% in the second quarter. Arizona State Retirement System now owns 2,632 shares of the business services provider's stock worth $669,000 after purchasing an additional 46 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of CorVel by 5.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 896 shares of the business services provider's stock worth $293,000 after buying an additional 46 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in CorVel by 98.0% during the second quarter. GAMMA Investing LLC now owns 97 shares of the business services provider's stock valued at $25,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

Insider Activity at CorVel

In other CorVel news, Director R Judd Jessup sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $311.60, for a total value of $779,000.00. Following the completion of the transaction, the director now directly owns 40,777 shares in the company, valued at $12,706,113.20. This represents a 5.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 47.57% of the stock is owned by company insiders.

Analyst Ratings Changes

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

CorVel Stock Down 0.9 %

CRVL traded down $3.09 during trading on Wednesday, hitting $355.23. The company's stock had a trading volume of 38,870 shares, compared to its average volume of 36,565. CorVel Co. has a one year low of $203.90 and a one year high of $367.84. The business's 50 day simple moving average is $321.00 and its 200-day simple moving average is $292.40. The firm has a market cap of $6.09 billion, a PE ratio of 76.08 and a beta of 1.10.

CorVel Company 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.