Granahan Investment Management LLC increased its holdings in CorVel Corp. (NASDAQ:CRVL – Free Report) by 36.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 79,896 shares of the business services provider’s stock after purchasing an additional 21,217 shares during the period. Granahan Investment Management LLC’s holdings in CorVel were worth $4,366,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in CorVel during the 4th quarter worth $29,250,000. Qube Research & Technologies Ltd increased its stake in shares of CorVel by 100.9% in the third quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock valued at $18,326,000 after buying an additional 118,879 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of CorVel by 249.0% in the second quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock valued at $12,066,000 after buying an additional 83,757 shares during the period. Two Sigma Investments LP raised its position in shares of CorVel by 588.2% during the third quarter. Two Sigma Investments LP now owns 72,745 shares of the business services provider’s stock worth $5,632,000 after acquiring an additional 62,175 shares during the last quarter. Finally, M&T Bank Corp raised its position in shares of CorVel by 1,230.0% during the fourth quarter. M&T Bank Corp now owns 63,439 shares of the business services provider’s stock worth $4,293,000 after acquiring an additional 58,669 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.
CorVel Trading Up 1.4%
Shares of CorVel stock opened at $59.86 on Friday. The business has a 50-day moving average price of $61.08 and a two-hundred day moving average price of $58.45. CorVel Corp. has a 1-year low of $44.83 and a 1-year high of $93.71. The company has a market cap of $3.05 billion, a P/E ratio of 27.97 and a beta of 0.98.
Analyst Upgrades and Downgrades
Several brokerages recently commented on CRVL. Weiss Ratings upgraded CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.
Read Our Latest Analysis on CorVel
Insider Buying and Selling
In other CorVel news, VP Jennifer Yoss sold 1,999 shares of CorVel stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total value of $121,978.98. Following the completion of the sale, the vice president directly owned 2,173 shares in the company, valued at approximately $132,596.46. The trade was a 47.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Maxim Shishin sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the transaction, the insider directly owned 7,050 shares in the company, valued at approximately $427,159.50. This trade represents a 24.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,249 shares of company stock valued at $807,126 over the last 90 days. Company insiders own 39.72% of the company’s stock.
CorVel Company Profile
CorVel Corporation (NASDAQ: CRVL) is a technology-driven provider of workers’ compensation, liability, and specialty risk management solutions. The company develops and deploys software and data analytics tools to streamline claims administration, medical cost containment, prescription drug management, and provider network access. CorVel’s integrated platform connects employers, insurers, healthcare providers, and injured workers, aiming to improve outcomes and control costs through process automation and real-time decision support.
The company’s product suite includes claims lifecycle management, bill review and negotiation, virtual care and telehealth services, pharmacy benefit management, and independent medical examinations (IMEs).
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