Louisiana State Employees Retirement System Invests $754,000 in CorVel Corp. $CRVL

Louisiana State Employees Retirement System bought a new stake in CorVel Corp. (NASDAQ:CRVL) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,800 shares of the business services provider’s stock, valued at approximately $754,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRVL. Norges Bank acquired a new position in CorVel during the fourth quarter worth $29,250,000. Qube Research & Technologies Ltd raised its stake in CorVel by 100.9% during the third quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock worth $18,326,000 after purchasing an additional 118,879 shares during the period. Algert Global LLC grew its stake in shares of CorVel by 73.4% in the 3rd quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock valued at $16,843,000 after buying an additional 92,077 shares during the period. Cubist Systematic Strategies LLC raised its position in shares of CorVel by 249.0% during the 2nd 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. Finally, Two Sigma Investments LP raised its position in CorVel by 588.2% in the third quarter. Two Sigma Investments LP now owns 72,745 shares of the business services provider’s stock valued at $5,632,000 after purchasing an additional 62,175 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Stock Performance

NASDAQ CRVL traded up $1.04 during trading on Tuesday, reaching $64.93. 4,216 shares of the company’s stock were exchanged, compared to its average volume of 233,117. CorVel Corp. has a 1 year low of $44.83 and a 1 year high of $101.71. The stock has a market cap of $3.31 billion, a P/E ratio of 30.34 and a beta of 0.98. The company has a 50 day moving average price of $59.93 and a two-hundred day moving average price of $59.06.

CorVel (NASDAQ:CRVL) last posted its 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 at CorVel

In other CorVel news, insider Maxim Shishin sold 2,250 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $60.59, for a total transaction of $136,327.50. Following the transaction, the insider owned 7,050 shares of the company’s stock, valued at approximately $427,159.50. This trade represents a 24.19% 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, Director Jeffrey J. Michael sold 9,000 shares of the business’s 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 completion of the sale, the director directly owned 559,721 shares of the company’s stock, valued at $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,249 shares of company stock valued at $807,126 over the last ninety days. Insiders own 39.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRVL shares. Weiss Ratings restated a “sell (d+)” rating on shares of CorVel in a research note on Thursday. Wall Street Zen raised CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average 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).