Callan Family Office LLC Acquires New Position in CorVel Corp. $CRVL

Key Points

• Callan Family Office acquired 61,305 CorVel shares worth approximately $3.83 million in the second quarter, joining several other institutional investors that recently increased or initiated positions. Institutional investors collectively own 51.36% of the company.
• Analyst sentiment remains cautious: CorVel has a consensus “Hold” rating, although Wall Street Zen upgraded the stock to “Buy” and Weiss Ratings improved its view to “Hold.”
• CorVel reported quarterly EPS of $0.63 on $259.93 million in revenue, with an 11.72% net margin and 29.92% return on equity. The stock opened at $70.15, while insiders sold 13,249 shares worth about $807,126 over the last quarter.

Callan Family Office LLC bought a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 61,305 shares of the business services provider's stock, valued at approximately $3,833,000. Callan Family Office LLC owned approximately 0.12% of CorVel as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Walleye Capital LLC acquired a new position in shares of CorVel in the 2nd quarter valued at $3,308,000. Evergreen Capital Management LLC acquired a new stake in CorVel during the 4th quarter worth about $784,000. M&T Bank Corp lifted its position in CorVel by 1,230.0% during the 4th quarter. M&T Bank Corp now owns 63,439 shares of the business services provider's stock worth $4,293,000 after acquiring an additional 58,669 shares during the period. OneDigital Investment Advisors LLC purchased a new stake in CorVel during the 2nd quarter valued at about $1,101,000. Finally, Fifth Third Bancorp grew its stake in CorVel by 8,676.7% during the 1st quarter. Fifth Third Bancorp now owns 22,556 shares of the business services provider's stock valued at $1,233,000 after purchasing an additional 22,299 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Weiss Ratings raised CorVel from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Insider Activity at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 9,000 shares of CorVel 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 transaction, the director 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Yoss sold 1,999 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total transaction of $121,978.98. Following the completion of the transaction, the vice president owned 2,173 shares of the company's stock, valued at approximately $132,596.46. This trade represents a 47.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 13,249 shares of company stock worth $807,126. 39.72% of the stock is owned by company insiders.

CorVel Price Performance

Shares of NASDAQ CRVL opened at $70.15 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 31.18 and a beta of 0.98. The firm's 50 day simple moving average is $62.28 and its 200-day simple moving average is $57.64. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $93.71.

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 (EPS) for the quarter. CorVel had a net margin of 11.72% and a return on equity of 29.92%. The firm had revenue of $259.93 million during the quarter.

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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