OneDigital Investment Advisors LLC Purchases Shares of 17,616 CorVel Corp. $CRVL

Key Points

• OneDigital Investment Advisors acquired 17,616 CorVel shares worth approximately $1.1 million during the second quarter. Institutional investors and hedge funds collectively own 51.36% of the company.
• CorVel reported quarterly revenue of $259.93 million and earnings of $0.63 per share, while its stock recently traded at $66.87—up 1.7%—with a market capitalization of $3.41 billion.
• Insiders sold 13,249 shares valued at about $807,126 over the past quarter. Analyst sentiment remains cautious, with CorVel carrying a consensus “Hold” rating despite some recent upgrades.

OneDigital Investment Advisors LLC bought a new stake in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 17,616 shares of the business services provider's stock, valued at approximately $1,101,000.

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

CorVel Trading Up 1.7%

NASDAQ:CRVL opened at $66.87 on Tuesday. CorVel Corp. has a 1 year low of $44.83 and a 1 year high of $93.71. The stock has a 50-day moving average price of $61.57 and a two-hundred day moving average price of $57.54. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of 29.72 and a beta of 0.98.

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

Insider Transactions at CorVel

In other CorVel news, 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 completion of the transaction, the vice president owned 2,173 shares in the company, valued at approximately $132,596.46. This represents a 47.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following 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 SEC filing for this sale provides additional information. Insiders sold 13,249 shares of company stock valued at $807,126 over the last quarter. Corporate insiders own 39.72% of the company's stock.

Analysts Set New Price Targets

CRVL has been the topic of a number of analyst reports. Wall Street Zen upgraded CorVel from a "hold" rating to a "buy" rating in a research 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 analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

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).

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