Deutsche Bank AG Buys New Shares in CorVel Corp. $CRVL

Key Points

• Deutsche Bank AG acquired 60,326 CorVel shares worth approximately $3.77 million during the second quarter, giving it a 0.12% stake. Institutional investors collectively own 51.36% of the company.
• CorVel reported quarterly revenue of $259.93 million and earnings of $0.63 per share, with an 11.72% net margin and 29.92% return on equity. Shares opened at $70.14, well above their 200-day moving average of $57.84.
• Insiders sold 13,350 shares worth $834,080 over the past quarter, while analyst sentiment remains cautious: CorVel has a consensus rating of Hold, despite one recent upgrade to “Buy.”

Deutsche Bank AG purchased a new position in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,326 shares of the business services provider's stock, valued at approximately $3,772,000. Deutsche Bank AG owned about 0.12% of CorVel as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CRVL. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CorVel during the 3rd quarter valued at $31,000. Los Angeles Capital Management LLC purchased a new position in shares of CorVel in the 4th quarter worth $33,000. Rockefeller Capital Management L.P. raised its position in shares of CorVel by 66.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider's stock worth $39,000 after buying an additional 230 shares during the period. Quarry LP boosted its holdings in CorVel by 218.6% in the third quarter. Quarry LP now owns 513 shares of the business services provider's stock valued at $40,000 after acquiring an additional 352 shares during the last quarter. Finally, Torren Management LLC purchased a new stake in CorVel during the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 51.36% of the company's stock.

CorVel Trading Down 1.5%

Shares of CRVL stock opened at $70.14 on Wednesday. The company's fifty day simple moving average is $62.73 and its 200-day simple moving average is $57.84. CorVel Corp. has a 52 week low of $44.83 and a 52 week high of $93.45. The company has a market cap of $3.58 billion, a PE ratio of 31.17 and a beta of 0.98.

CorVel (NASDAQ:CRVL - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share 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.

Insider Activity

In other news, insider Maxim Shishin sold 2,250 shares of the stock in a transaction dated 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 owned 7,050 shares in the company, valued at approximately $427,159.50. This trade represents a 24.19% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 shares were sold at an average price of $70.92, for a total value of $148,932.00. Following the sale, the vice president owned 2,173 shares in the company, 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 quarter, insiders sold 13,350 shares of company stock worth $834,080. 39.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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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