Walleye Capital LLC Makes New $3.31 Million Investment in CorVel Corp. $CRVL

Key Points

• Walleye Capital initiated a $3.31 million position in CorVel, purchasing 52,915 shares, or approximately 0.10% of the company. Institutional investors collectively own 51.36% of CorVel.
• 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.
• CRVL opened at $65.73, above its 50-day and 200-day moving averages, while analysts maintain a consensus “Hold” rating. Recent insider activity was negative, with executives selling shares totaling about $807,126 over three months.

Walleye Capital LLC purchased a new stake in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 52,915 shares of the business services provider's stock, valued at approximately $3,308,000. Walleye Capital LLC owned about 0.10% of CorVel as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of CorVel by 2.7% during the 4th quarter. State Street Corp now owns 1,179,572 shares of the business services provider's stock worth $79,822,000 after buying an additional 30,987 shares during the period. Geode Capital Management LLC grew its stake in CorVel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider's stock valued at $62,796,000 after buying an additional 28,666 shares during the last quarter. Norges Bank bought a new position in CorVel in the 4th quarter worth $29,250,000. Qube Research & Technologies Ltd raised its holdings in CorVel by 100.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider's stock worth $18,326,000 after acquiring an additional 118,879 shares during the period. Finally, Raymond James Financial Inc. lifted its position in CorVel by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 221,070 shares of the business services provider's stock worth $17,115,000 after acquiring an additional 2,798 shares during the last quarter. Institutional investors own 51.36% of the company's stock.

CorVel Price Performance

NASDAQ CRVL opened at $65.73 on Friday. The company's fifty day moving average is $61.43 and its two-hundred day moving average is $57.64. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $93.71. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 29.21 and a beta of 0.98.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRVL shares. 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 upgraded CorVel from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Insider Buying and Selling

In related news, insider Maxim Shishin sold 2,250 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $60.59, for a total transaction of $136,327.50. Following the transaction, the insider directly owned 7,050 shares in the company, valued at $427,159.50. The trade was a 24.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jennifer Yoss sold 1,999 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total value of $121,978.98. Following the completion of the transaction, the vice president directly owned 2,173 shares of the company's stock, valued at approximately $132,596.46. This trade represents a 47.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,249 shares of company stock valued at $807,126 over the last three months. 39.72% of the stock is owned by corporate insiders.

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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