CorVel (NASDAQ:CRVL) Director Jeffrey Michael Sells 9,000 Shares

CorVel Corp. (NASDAQ:CRVL) Director Jeffrey Michael sold 9,000 shares of CorVel stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following the completion of the transaction, the director directly owned 559,721 shares in the company, valued at $34,131,786.58. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

CorVel Trading Up 0.1%

NASDAQ:CRVL opened at $61.15 on Thursday. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $109.95. The firm has a fifty day simple moving average of $57.73 and a 200-day simple moving average of $60.36. The company has a market capitalization of $3.10 billion, a P/E ratio of 28.57 and a beta of 0.99.

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

Analyst Ratings Changes

CRVL has been the subject of a number of research reports. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings cut shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On CorVel

A number of hedge funds have recently added to or reduced their stakes in CRVL. Vanguard Group Inc. increased its position in shares of CorVel by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock valued at $254,541,000 after purchasing an additional 45,071 shares during the last quarter. State Street Corp increased its position in shares of CorVel by 2.7% in the 4th quarter. State Street Corp now owns 1,179,572 shares of the business services provider’s stock valued at $79,822,000 after purchasing an additional 30,987 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CorVel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider’s stock valued at $62,796,000 after purchasing an additional 28,666 shares during the last quarter. Norges Bank purchased a new position in shares of CorVel in the 4th quarter valued at $29,250,000. Finally, Qube Research & Technologies Ltd grew its position in shares of CorVel by 100.9% in the 3rd 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 last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

About CorVel

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).