Freestone Grove Partners LP Makes New Investment in CorVel Corp. $CRVL

Freestone Grove Partners LP purchased a new position in shares of CorVel Corp. (NASDAQ:CRVL) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 16,322 shares of the business services provider’s stock, valued at approximately $1,020,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Walleye Capital LLC acquired a new stake in CorVel during the 2nd quarter worth approximately $3,308,000. NewEdge Wealth LLC purchased a new position in CorVel in the 2nd quarter valued at approximately $1,956,000. BlackRock Inc. acquired a new position in shares of CorVel in the second quarter worth $321,316,000. Deutsche Bank AG acquired a new position in shares of CorVel in the second quarter worth $3,772,000. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of CorVel in the second quarter worth $1,101,000. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings raised CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, CorVel currently has an average rating of “Hold”.

Insiders Place Their Bets

In other CorVel news, VP Jennifer Yoss sold 2,100 shares of CorVel stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $70.92, for a total transaction of $148,932.00. Following the completion of the sale, the vice president directly owned 2,173 shares of the company’s stock, valued at $154,109.16. The trade was a 49.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Judd Jessup sold 1,562 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $70.71, for a total value of $110,449.02. Following the transaction, the director directly owned 117,083 shares of the company’s stock, valued at approximately $8,278,938.93. This represents a 1.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,174 shares of company stock worth $1,033,676. 39.72% of the stock is owned by corporate insiders.

CorVel Stock Down 0.3%

NASDAQ CRVL opened at $69.24 on Friday. CorVel Corp. has a 52 week low of $44.83 and a 52 week high of $93.45. The firm has a 50 day moving average of $63.41 and a two-hundred day moving average of $58.22. The stock has a market capitalization of $3.53 billion, a PE ratio of 30.77 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share for the quarter. The business had revenue of $259.93 million for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%.

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).