Royal Bank of Canada raised its position in CorVel Corp. (NASDAQ:CRVL – Free Report) by 24.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,134 shares of the business services provider’s stock after purchasing an additional 10,957 shares during the period. Royal Bank of Canada’s holdings in CorVel were worth $3,013,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of CRVL. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CorVel in the third quarter worth $31,000. Los Angeles Capital Management LLC purchased a new position in CorVel during the fourth quarter worth about $33,000. Rockefeller Capital Management L.P. grew its position in CorVel by 66.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock worth $39,000 after buying an additional 230 shares in the last quarter. Quarry LP increased its stake in CorVel by 218.6% in the 3rd quarter. Quarry LP now owns 513 shares of the business services provider’s stock worth $40,000 after acquiring an additional 352 shares during the last quarter. Finally, Torren Management LLC bought a new position in CorVel in the 4th quarter worth about $46,000. 51.36% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Weiss Ratings upgraded CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.
Insider Transactions at CorVel
In other news, VP Jennifer Yoss sold 1,999 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total transaction of $121,978.98. Following the transaction, the vice president directly owned 2,173 shares in the company, valued at approximately $132,596.46. This represents a 47.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total value of $548,820.00. Following the transaction, the director owned 559,721 shares in the company, valued at $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,249 shares of company stock worth $807,126. 39.72% of the stock is currently owned by corporate insiders.
CorVel Stock Performance
NASDAQ CRVL opened at $65.73 on Friday. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $93.71. The company has a fifty day moving average of $61.43 and a 200-day moving average of $57.64. The company has a market capitalization of $3.35 billion, a P/E ratio of 29.21 and a beta of 0.98.
CorVel (NASDAQ:CRVL – Get Free Report) last released its earnings results on Tuesday, August 4th. The business services provider reported $0.63 EPS for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.The business had revenue of $259.93 million for the quarter.
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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