Corient Private Wealth LP Takes Position in CorVel Corp. $CRVL

Key Points

• Corient Private Wealth LP acquired 50,913 CorVel shares in the second quarter, worth approximately $3.18 million and representing about 0.10% of the company. Institutional investors collectively own 51.36% of CorVel.
• CorVel reported quarterly EPS of $0.63 on revenue of $259.93 million, with a 29.92% return on equity and an 11.72% net margin.
• CRVL shares opened at $69.74, while analysts maintain an overall “Hold” rating. Recent insider activity was negative, with insiders selling 16,174 shares worth roughly $1.03 million over 90 days.

Corient Private Wealth LP bought a new position in CorVel Corp. (NASDAQ:CRVL - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 50,913 shares of the business services provider's stock, valued at approximately $3,183,000. Corient Private Wealth LP owned about 0.10% of CorVel as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CorVel during the third quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new stake in CorVel in the fourth quarter worth approximately $33,000. Rockefeller Capital Management L.P. boosted its holdings in CorVel by 66.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider's stock worth $39,000 after purchasing an additional 230 shares during the last quarter. Quarry LP grew its position in CorVel by 218.6% in the 3rd quarter. Quarry LP now owns 513 shares of the business services provider's stock worth $40,000 after purchasing an additional 352 shares during the period. Finally, Versant Capital Management Inc grew its position in CorVel by 59.7% in the 2nd quarter. Versant Capital Management Inc now owns 907 shares of the business services provider's stock worth $57,000 after purchasing an additional 339 shares during the period. Hedge funds and other institutional investors own 51.36% of the company's stock.

CorVel Stock Performance

Shares of CorVel stock opened at $69.74 on Wednesday. The stock has a market cap of $3.56 billion, a P/E ratio of 31.00 and a beta of 0.97. The stock's fifty day moving average is $63.84 and its 200 day moving average is $58.63. CorVel Corp. has a one year low of $44.83 and a one year high of $93.45.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRVL shares. Weiss Ratings raised CorVel from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, July 16th. Wall Street Zen raised 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, According to data from MarketBeat, the stock presently has an average rating of "Hold".

Insider Buying and Selling

In related news, insider Maxim Shishin sold 2,250 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were 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. This represents a 24.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,174 shares of company stock valued at $1,033,676 in the last 90 days. Corporate insiders own 39.72% of the company's stock.

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).

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source