5,139,406 Shares in CorVel Corp. $CRVL Purchased by BlackRock Inc.

Key Points

• BlackRock acquired 5.14 million CorVel shares worth approximately $321.3 million, giving it a 10.08% stake. Institutional investors collectively own 51.36% of the company.
• Analyst sentiment remains cautious, with CorVel holding an average “Hold” rating; Wall Street Zen upgraded the stock to “Buy,” while Weiss Ratings raised its view to “Hold.”
• CorVel reported quarterly revenue of $259.93 million and earnings of $0.63 per share. The stock opened at $70.36, while insiders sold 13,350 shares worth $834,080 over the past 90 days.

BlackRock Inc. bought a new stake in CorVel Corp. (NASDAQ:CRVL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,139,406 shares of the business services provider's stock, valued at approximately $321,316,000. BlackRock Inc. owned about 10.08% of CorVel as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of CorVel by 12.5% in the first quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider's stock valued at $5,739,000 after acquiring an additional 5,703 shares during the last quarter. AQR Capital Management LLC boosted its position in CorVel by 4.0% during 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 purchasing an additional 1,013 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in 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 purchasing an additional 389 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CorVel by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider's stock valued at $1,774,000 after purchasing an additional 702 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of CorVel by 127.4% during the 1st quarter. Millennium Management LLC now owns 48,182 shares of the business services provider's stock worth $5,395,000 after purchasing an additional 26,990 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CRVL shares. Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Weiss Ratings raised shares of CorVel from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

CorVel Stock Up 0.3%

Shares of NASDAQ CRVL opened at $70.36 on Thursday. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $93.45. The company has a market cap of $3.59 billion, a PE ratio of 31.27 and a beta of 0.98. The business's 50 day moving average price is $62.98 and its two-hundred day moving average price is $58.00.

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

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total value of $548,820.00. Following the transaction, the director directly owned 559,721 shares of the company's stock, valued at $34,131,786.58. This 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 link. Also, VP Jennifer Yoss sold 2,100 shares of the firm's 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 sale, the vice president owned 2,173 shares of the company's stock, valued at approximately $154,109.16. This represents a 49.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,350 shares of company stock worth $834,080 over the last ninety days. Insiders own 39.72% of the company's stock.

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).

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