California Public Employees Retirement System Has $1.45 Million Stake in CorVel Co. (CRVL)

California Public Employees Retirement System lifted its position in shares of CorVel Co. (NASDAQ:CRVL) by 24.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,476 shares of the business services provider’s stock after purchasing an additional 5,482 shares during the quarter. California Public Employees Retirement System owned 0.15% of CorVel worth $1,453,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan lifted its holdings in CorVel by 58.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 3,660 shares of the business services provider’s stock valued at $199,000 after purchasing an additional 1,350 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of CorVel by 1.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 129,894 shares of the business services provider’s stock worth $7,065,000 after acquiring an additional 1,454 shares during the period. SG Americas Securities LLC raised its holdings in shares of CorVel by 90.9% during the 4th quarter. SG Americas Securities LLC now owns 3,583 shares of the business services provider’s stock worth $190,000 after acquiring an additional 1,706 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of CorVel by 63.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,998 shares of the business services provider’s stock worth $272,000 after acquiring an additional 1,937 shares during the period. Finally, First Quadrant L P CA raised its holdings in shares of CorVel by 123.7% during the 4th quarter. First Quadrant L P CA now owns 3,910 shares of the business services provider’s stock worth $207,000 after acquiring an additional 2,162 shares during the period. 46.10% of the stock is currently owned by hedge funds and other institutional investors.

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Separately, BidaskClub downgraded CorVel from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th.

Shares of NASDAQ:CRVL traded up $0.65 during midday trading on Wednesday, reaching $52.10. 20,527 shares of the company’s stock were exchanged, compared to its average volume of 35,127. The company has a market capitalization of $948.72, a price-to-earnings ratio of 27.61 and a beta of 0.68. CorVel Co. has a fifty-two week low of $42.55 and a fifty-two week high of $61.20.

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. The company had revenue of $140.73 million during the quarter. CorVel had a return on equity of 23.74% and a net margin of 6.33%.

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About CorVel

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.

Institutional Ownership by Quarter for CorVel (NASDAQ:CRVL)

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