CorVel (NASDAQ:CRVL) Shares Gap Down – Here’s What Happened

CorVel Corp. (NASDAQ:CRVL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $64.26, but opened at $61.23. CorVel shares last traded at $61.8690, with a volume of 5,635 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

CorVel Stock Performance

The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 29.01 and a beta of 0.98. The company has a 50 day moving average of $55.70 and a 200 day moving average of $61.73.

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

Insider Activity at CorVel

In other news, insider Maxim Shishin sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.00, for a total value of $129,600.00. Following the completion of the sale, the insider directly owned 7,050 shares of the company’s stock, valued at $380,700. This trade represents a 25.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 44.56% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CorVel

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in CorVel by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock valued at $254,541,000 after purchasing an additional 45,071 shares in the last quarter. State Street Corp increased its stake in CorVel by 2.7% in the 4th quarter. State Street Corp now owns 1,179,572 shares of the business services provider’s stock valued at $79,822,000 after purchasing an additional 30,987 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 28,666 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in CorVel by 14.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 458,326 shares of the business services provider’s stock valued at $35,484,000 after purchasing an additional 58,323 shares in the last quarter. Finally, Norges Bank purchased a new position in CorVel in the 4th quarter valued at approximately $29,250,000. 51.36% of the stock is owned by hedge funds and other institutional investors.

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).