Dimensional Fund Advisors LP Trims Stake in CorVel Corp. $CRVL

Key Points

• Dimensional Fund Advisors reduced its CorVel stake by 4.9% in the first quarter, selling 60,376 shares and retaining 1.16 million shares valued at approximately $63.4 million. Institutional investors collectively own 51.36% of CorVel.
• Analyst sentiment remains cautious but improved, with Weiss Ratings upgrading CorVel to “hold” and Wall Street Zen raising its rating to “buy”; the stock’s overall consensus rating is “Hold.”
• CorVel reported quarterly revenue of $248.55 million and earnings of $0.61 per share, while insiders sold 13,249 shares worth about $807,126 over the past 90 days.

Dimensional Fund Advisors LP lessened its stake in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,160,553 shares of the business services provider's stock after selling 60,376 shares during the quarter. Dimensional Fund Advisors LP owned about 2.27% of CorVel worth $63,424,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of CorVel in the third quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of CorVel during the fourth quarter valued at $33,000. Eagle Bay Advisors LLC purchased a new stake in CorVel during the 4th quarter worth about $37,000. Rockefeller Capital Management L.P. raised its stake in CorVel by 66.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider's stock valued at $39,000 after purchasing an additional 230 shares during the last quarter. Finally, Quarry LP raised its stake in CorVel by 218.6% in the 3rd quarter. Quarry LP now owns 513 shares of the business services provider's stock valued at $40,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company's stock.

Analyst Upgrades and Downgrades

CRVL has been the topic of a number of recent research reports. 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 research report on Saturday, May 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, CorVel presently has an average rating of "Hold".

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 9,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total transaction of $548,820.00. Following the completion of the transaction, the director owned 559,721 shares of the company's stock, valued at $34,131,786.58. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jennifer Yoss sold 1,999 shares of the 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 transaction, the vice president owned 2,173 shares in the company, valued at approximately $132,596.46. The trade was a 47.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 13,249 shares of company stock worth $807,126 in the last 90 days. 39.72% of the stock is owned by company insiders.

CorVel Stock Up 1.0%

CRVL stock opened at $60.06 on Friday. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 28.07 and a beta of 0.98. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $93.71. The stock's fifty day simple moving average is $61.03 and its 200-day simple moving average is $58.12.

CorVel (NASDAQ:CRVL - Get Free Report) last released its earnings results on Tuesday, May 19th. The business services provider reported $0.61 EPS for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The firm had revenue of $248.55 million during the quarter.

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).

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