Ieq Capital LLC Makes New $1.86 Million Investment in CorVel Corp. $CRVL

Key Points

• Ieq Capital LLC acquired 29,783 CorVel shares valued at approximately $1.86 million, giving it a 0.06% stake. Institutional investors collectively own 51.36% of the company.
• CorVel insiders sold 13,350 shares worth approximately $834,080 over the past 90 days, including sales by Director Jeffrey J. Michael and insider Maxim Shishin.
• CorVel reported quarterly EPS of $0.63 on revenue of $259.93 million. The stock was recently trading at $70.14, while analysts maintained an overall “Hold” rating despite some upgrades.

Ieq Capital LLC acquired a new stake in CorVel Corp. (NASDAQ:CRVL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 29,783 shares of the business services provider's stock, valued at approximately $1,862,000. Ieq Capital LLC owned 0.06% of CorVel as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in CorVel by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider's stock valued at $1,640,000 after acquiring an additional 115 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of CorVel by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider's stock worth $1,636,000 after acquiring an additional 139 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in shares of CorVel by 18.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,228 shares of the business services provider's stock valued at $77,000 after purchasing an additional 195 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of CorVel by 6.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,843 shares of the business services provider's stock valued at $260,000 after purchasing an additional 218 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in CorVel by 66.9% during the 4th 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 in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jeffrey J. Michael sold 9,000 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 559,721 shares of the company's stock, valued at $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Maxim Shishin sold 2,250 shares of CorVel stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total transaction of $136,327.50. Following the sale, the insider 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 13,350 shares of company stock worth $834,080. 39.72% of the stock is currently owned by insiders.

CorVel Stock Performance

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

CorVel (NASDAQ:CRVL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. The company 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%.

Analysts Set New Price Targets

A number of research firms have weighed in on CRVL. Wall Street Zen raised CorVel from a "hold" rating to a "buy" rating in a report on Saturday, May 30th. Weiss Ratings upgraded shares of CorVel from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold".

About CorVel

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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