14,894 Shares in CorVel Corp. $CRVL Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 14,894 CorVel shares worth approximately $931,000 during the second quarter. Several other institutional investors also initiated or increased positions, while institutions and hedge funds collectively own 51.36% of CorVel.
• Analyst sentiment remains cautious: CorVel has a consensus “Hold” rating, although Wall Street Zen upgraded the stock to “Buy” and Weiss Ratings modestly improved its rating.
• CorVel reported quarterly revenue of $259.93 million and earnings of $0.63 per share. Its stock opened at $68.23, while insiders sold 20,197 shares worth about $1.32 million over the past 90 days.

The Manufacturers Life Insurance Company purchased a new stake in CorVel Corp. (NASDAQ:CRVL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,894 shares of the business services provider's stock, valued at approximately $931,000.

Several other hedge funds have also added to or reduced their stakes in the business. Algert Global LLC raised its position in shares of CorVel by 67.0% in the second quarter. Algert Global LLC now owns 383,419 shares of the business services provider's stock valued at $23,971,000 after purchasing an additional 153,877 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of CorVel during the 2nd quarter worth about $279,000. Quantbot Technologies LP acquired a new position in CorVel in the 2nd quarter valued at about $200,000. Ieq Capital LLC acquired a new position in CorVel in the 2nd quarter valued at about $1,862,000. Finally, Callan Family Office LLC acquired a new position in CorVel in the 2nd quarter valued at about $3,833,000. Institutional investors and hedge funds own 51.36% of the company's stock.

Wall Street Analyst Weigh In

CRVL has been the subject of several research reports. Weiss Ratings upgraded shares of CorVel from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday. Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold".

CorVel Price Performance

CRVL stock opened at $68.23 on Friday. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $93.45. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 30.32 and a beta of 0.97. The business's fifty day moving average price is $64.25 and its two-hundred day moving average price is $58.99.

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

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total transaction of $548,820.00. Following the transaction, the director directly owned 559,721 shares of the company's stock, valued at approximately $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jennifer Yoss sold 2,100 shares of CorVel stock in a transaction that occurred on Thursday, August 20th. The shares were 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 owned 2,173 shares of the company's stock, valued at approximately $154,109.16. The trade was a 49.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 20,197 shares of company stock worth $1,315,568. 39.72% of the stock is currently owned by company insiders.

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).

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