Stone Ridge Asset Management LLC Invests $583,000 in CorVel Co. (CRVL) Stock

Stone Ridge Asset Management LLC bought a new stake in CorVel Co. (NASDAQ:CRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,028 shares of the business services provider’s stock, valued at approximately $583,000. Stone Ridge Asset Management LLC owned 0.06% of CorVel at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan lifted its stake in CorVel by 58.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the business services provider’s stock valued at $199,000 after buying an additional 1,350 shares during the period. Russell Investments Group Ltd. lifted its stake in CorVel by 1.1% in the third quarter. Russell Investments Group Ltd. now owns 129,894 shares of the business services provider’s stock valued at $7,065,000 after buying an additional 1,454 shares during the period. LS Investment Advisors LLC lifted its stake in CorVel by 424.0% in the fourth quarter. LS Investment Advisors LLC now owns 2,033 shares of the business services provider’s stock valued at $108,000 after buying an additional 1,645 shares during the period. SG Americas Securities LLC lifted its stake in CorVel by 90.9% in the fourth quarter. SG Americas Securities LLC now owns 3,583 shares of the business services provider’s stock valued at $190,000 after buying an additional 1,706 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in CorVel by 63.3% in the third quarter. BNP Paribas Arbitrage SA now owns 4,998 shares of the business services provider’s stock valued at $272,000 after buying an additional 1,937 shares during the period. 46.13% of the stock is currently owned by hedge funds and other institutional investors.

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CorVel Co. (NASDAQ CRVL) opened at $50.90 on Monday. CorVel Co. has a one year low of $40.00 and a one year high of $61.20. The firm has a market capitalization of $960.99, a PE ratio of 27.97 and a beta of 0.71.

CorVel (NASDAQ:CRVL) last released its earnings results on Tuesday, January 30th. The business services provider reported $0.50 earnings per share for the quarter. CorVel had a return on equity of 23.74% and a net margin of 6.33%. The firm had revenue of $140.73 million for the quarter.

Separately, BidaskClub lowered CorVel from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 29th.

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CorVel Company Profile

CorVel Corporation provides medical cost containment and managed care services to address the medical costs of workers' compensation benefits, automobile insurance claims, and group health insurance benefits. The company offers network solutions, including automated medical fee auditing, preferred provider management and reimbursement services, retrospective utilization review, facility claim review, professional review, pharmacy services, directed care services, medicare solutions, clearinghouse services, independent medical examinations, and inpatient medical bill review.

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Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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