Algert Global LLC lifted its position in CorVel Corp. (NASDAQ:CRVL - Free Report) by 67.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 383,419 shares of the business services provider's stock after buying an additional 153,877 shares during the period. Algert Global LLC owned approximately 0.75% of CorVel worth $23,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. Walleye Capital LLC bought a new position in CorVel in the 2nd quarter worth about $3,308,000. NewEdge Wealth LLC purchased a new stake in shares of CorVel in the second quarter valued at approximately $1,956,000. M&T Bank Corp boosted its holdings in shares of CorVel by 1,230.0% in the fourth quarter. M&T Bank Corp now owns 63,439 shares of the business services provider's stock valued at $4,293,000 after purchasing an additional 58,669 shares during the period. OneDigital Investment Advisors LLC bought a new position in CorVel in the second quarter worth approximately $1,101,000. Finally, Callan Family Office LLC purchased a new position in CorVel during the 2nd quarter worth $3,833,000. Hedge funds and other institutional investors own 51.36% of the company's stock.
CorVel Stock Performance
Shares of CRVL opened at $71.23 on Tuesday. The stock has a 50-day moving average of $62.52 and a two-hundred day moving average of $57.70. CorVel Corp. has a one year low of $44.83 and a one year high of $93.45. The stock has a market cap of $3.63 billion, a P/E ratio of 31.66 and a beta of 0.98.
CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.63 EPS for the quarter. The company 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%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on CRVL shares. 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 report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".
Read Our Latest Report on CorVel
Insider Buying and Selling
In other news, insider Maxim Shishin sold 2,250 shares of CorVel stock in a transaction on Friday, June 12th. The stock was sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the sale, the insider directly owned 7,050 shares of the company's stock, valued at approximately $427,159.50. The trade was a 24.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction 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 owned 559,721 shares in the company, valued at approximately $34,131,786.58. The trade was a 1.58% 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 have sold 13,350 shares of company stock worth $834,080. 39.72% of the stock is owned by corporate insiders.
CorVel Company Profile
(
Free Report)
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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Want to see what other hedge funds are holding CRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CorVel Corp. (NASDAQ:CRVL - Free Report).
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