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 that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following the sale, the director directly owned 559,721 shares of the company’s stock, valued at approximately $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

CorVel Price Performance

NASDAQ:CRVL remained flat at $61.11 during mid-day trading on Wednesday. The company had a trading volume of 179,351 shares, compared to its average volume of 231,304. The stock has a market cap of $3.10 billion, a PE ratio of 28.56 and a beta of 0.99. The stock’s fifty day moving average price is $57.59 and its 200-day moving average price is $60.43. CorVel Corp. has a 1-year low of $44.83 and a 1-year high of $109.95.

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. The business had revenue of $248.55 million during the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.

Hedge Funds Weigh In On CorVel

Several hedge funds and other institutional investors have recently modified their holdings of the business. Argent Capital Management LLC increased its stake in shares of CorVel by 52.4% in the 1st quarter. Argent Capital Management LLC now owns 40,531 shares of the business services provider’s stock valued at $2,215,000 after purchasing an additional 13,930 shares during the last quarter. Royal Bank of Canada increased its stake in shares of CorVel by 24.8% in the 1st quarter. Royal Bank of Canada now owns 55,134 shares of the business services provider’s stock valued at $3,013,000 after purchasing an additional 10,957 shares during the last quarter. Empowered Funds LLC increased its stake in shares of CorVel by 1.5% in the 1st quarter. Empowered Funds LLC now owns 15,815 shares of the business services provider’s stock valued at $864,000 after purchasing an additional 239 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of CorVel by 328.4% in the 1st quarter. Quantinno Capital Management LP now owns 81,544 shares of the business services provider’s stock valued at $4,456,000 after purchasing an additional 62,508 shares during the last quarter. Finally, Granahan Investment Management LLC increased its stake in shares of CorVel by 36.2% in the 1st quarter. Granahan Investment Management LLC now owns 79,896 shares of the business services provider’s stock valued at $4,366,000 after purchasing an additional 21,217 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Analysts Set New Price Targets

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

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).