Argent Capital Management LLC Has $2.21 Million Holdings in CorVel Corp. $CRVL

Argent Capital Management LLC boosted its stake in CorVel Corp. (NASDAQ:CRVL) by 52.4% in the first quarter, HoldingsChannel.com reports. The firm owned 40,531 shares of the business services provider’s stock after buying an additional 13,930 shares during the period. Argent Capital Management LLC’s holdings in CorVel were worth $2,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Evergreen Capital Management LLC purchased a new stake in CorVel during the 4th quarter worth about $784,000. Tudor Investment Corp ET AL lifted its holdings in CorVel by 17.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 114,116 shares of the business services provider’s stock valued at $8,835,000 after purchasing an additional 17,233 shares in the last quarter. M&T Bank Corp boosted its stake in shares of CorVel by 1,230.0% during the 4th quarter. M&T Bank Corp now owns 63,439 shares of the business services provider’s stock worth $4,293,000 after purchasing an additional 58,669 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of CorVel by 8,676.7% during the 1st quarter. Fifth Third Bancorp now owns 22,556 shares of the business services provider’s stock worth $1,233,000 after purchasing an additional 22,299 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in shares of CorVel during the first quarter worth about $1,327,000. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on CRVL shares. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings upgraded shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, CorVel presently has a consensus rating of “Hold”.

CorVel Price Performance

NASDAQ:CRVL opened at $60.06 on Friday. The firm has a market capitalization of $3.06 billion, a PE ratio of 28.07 and a beta of 0.98. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $93.71. The business’s 50-day moving average is $61.03 and its two-hundred day moving average is $58.12.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, May 19th. The business services provider reported $0.61 earnings per share for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The firm had revenue of $248.55 million during the quarter.

Insider Activity

In related news, Director Jeffrey J. Michael sold 9,000 shares of CorVel stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total value of $548,820.00. Following the completion of the sale, the director owned 559,721 shares in the company, valued at approximately $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Yoss sold 1,999 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total transaction of $121,978.98. Following the completion of the sale, the vice president directly owned 2,173 shares in the company, valued at $132,596.46. This represents a 47.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 13,249 shares of company stock worth $807,126 over the last ninety days. Corporate 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).