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

Balyasny Asset Management L.P. increased its holdings in shares of CorVel Co. (NASDAQ:CRVL) by 133.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,123 shares of the business services provider’s stock after buying 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 SEC filing.

Several other hedge funds have also added to or reduced their stakes in CRVL. Barclays PLC raised its stake in shares of CorVel by 380.8% in the 3rd quarter. Barclays PLC now owns 15,977 shares of the business services provider’s stock valued at $5,223,000 after purchasing an additional 12,654 shares during the period. Franklin Resources Inc. raised its stake in shares of CorVel by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock valued at $614,000 after purchasing an additional 173 shares during the period. GAMMA Investing LLC raised its stake in shares of CorVel by 175.2% in the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 275 shares during the period. Eagle Bay Advisors LLC raised its stake in shares of CorVel by 136.8% in the 4th quarter. Eagle Bay Advisors LLC now owns 540 shares of the business services provider’s stock valued at $60,000 after purchasing an additional 312 shares during the period. Finally, Tealwood Asset Management Inc. acquired a new stake in shares of CorVel in the 4th quarter valued at about $710,000. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analysts Set New Price Targets

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

CorVel Price Performance

CRVL opened at $114.32 on Wednesday. The business’s 50-day moving average price is $110.92 and its two-hundred day moving average price is $116.24. CorVel Co. has a 1 year low of $76.53 and a 1 year high of $128.61. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 67.25 and a beta of 1.10.

Insider Activity

In other news, Director Jeffrey J. Michael sold 10,477 shares of the firm’s stock in a transaction dated 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 trade represents a 1.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the transaction, the director now owns 118,213 shares of the company’s stock, valued at $13,758,811.07. The trade was a 7.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,200 shares of company stock worth $4,340,250 in the last quarter. Corporate insiders own 47.57% of the company’s stock.

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.