Bessemer Group Inc. Sells 23,526 Shares of CorVel Corp. $CRVL

Bessemer Group Inc. cut its holdings in CorVel Corp. (NASDAQ:CRVL) by 29.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 56,120 shares of the business services provider’s stock after selling 23,526 shares during the quarter. Bessemer Group Inc.’s holdings in CorVel were worth $3,067,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CorVel by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider’s stock worth $1,640,000 after buying an additional 115 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of CorVel by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider’s stock valued at $1,636,000 after buying an additional 139 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of CorVel by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,697 shares of the business services provider’s stock valued at $962,000 after buying an additional 210 shares during the period. Benjamin Edwards Inc. increased its position in shares of CorVel by 6.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,843 shares of the business services provider’s stock worth $260,000 after acquiring an additional 218 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of CorVel by 66.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock worth $39,000 after acquiring an additional 230 shares in the last quarter. 51.36% of the stock is owned by institutional investors.

Insider Transactions at CorVel

In other news, insider Maxim Shishin sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $60.59, for a total transaction of $136,327.50. Following the sale, the insider owned 7,050 shares in the company, valued at $427,159.50. This represents a 24.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $34,131,786.58. The trade was a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,249 shares of company stock worth $807,126 in the last 90 days. Corporate insiders own 39.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRVL. Weiss Ratings upgraded shares of 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 research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, CorVel presently has a consensus rating of “Hold”.

CorVel Stock Performance

NASDAQ:CRVL opened at $60.15 on Wednesday. The stock’s 50-day simple moving average is $60.98 and its 200 day simple moving average is $58.55. The company has a market cap of $3.07 billion, a P/E ratio of 28.11 and a beta of 0.98. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $97.96.

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

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).