Healthcare of Ontario Pension Plan Trust Fund Lowers Holdings in CorVel Corp. $CRVL

Healthcare of Ontario Pension Plan Trust Fund reduced its position in CorVel Corp. (NASDAQ:CRVL) by 39.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 27,458 shares of the business services provider’s stock after selling 18,038 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in CorVel were worth $1,501,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CRVL. Royal Bank of Canada raised its stake in shares of CorVel by 12.5% during the 1st quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock worth $5,739,000 after buying an additional 5,703 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of CorVel by 4.0% in the first quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock valued at $2,964,000 after buying an additional 1,013 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of CorVel by 11.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock valued at $425,000 after buying an additional 389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CorVel by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock worth $1,774,000 after acquiring an additional 702 shares during the period. Finally, Millennium Management LLC raised its position in CorVel by 127.4% in the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock worth $5,395,000 after acquiring an additional 26,990 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Price Performance

Shares of NASDAQ:CRVL opened at $60.06 on Friday. The business’s 50 day simple moving average is $61.03 and its 200-day simple moving average is $58.12. The firm has a market capitalization of $3.06 billion, a price-to-earnings 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.

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 business had revenue of $248.55 million for the quarter.

Insiders Place Their Bets

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total transaction of $121,978.98. Following the sale, the vice president directly owned 2,173 shares in the company, valued at approximately $132,596.46. The trade was a 47.91% decrease in their ownership of the stock. The transaction 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 company’s 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 directly owned 559,721 shares in the company, valued at $34,131,786.58. This trade represents a 1.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 13,249 shares of company stock worth $807,126. 39.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

CorVel 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).