CorVel (NASDAQ:CRVL) Shares Gap Down – What’s Next?

CorVel Corp. (NASDAQ:CRVL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $64.26, but opened at $61.23. CorVel shares last traded at $61.8690, with a volume of 5,635 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

CorVel Trading Up 0.7%

The business has a 50-day moving average price of $55.70 and a 200-day moving average price of $61.73. The firm has a market cap of $3.17 billion, a P/E ratio of 29.01 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings results on Tuesday, May 19th. The business services provider reported $0.61 earnings per share (EPS) 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.

Insider Buying and Selling at CorVel

In related news, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.00, for a total transaction of $129,600.00. Following the completion of the sale, the insider directly owned 7,050 shares in the company, valued at $380,700. This represents a 25.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 44.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On CorVel

A number of hedge funds have recently made changes to their positions in CRVL. Federated Hermes Inc. lifted its stake in shares of CorVel by 147.4% during the 3rd quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock worth $29,000 after purchasing an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CorVel during the 3rd quarter worth $31,000. Los Angeles Capital Management LLC purchased a new stake in CorVel in the fourth quarter valued at about $33,000. Eagle Bay Advisors LLC purchased a new stake in CorVel in the fourth quarter valued at about $37,000. Finally, Hantz Financial Services Inc. raised its stake in CorVel by 61.3% in the third quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider’s stock valued at $39,000 after buying an additional 190 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

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).