CorVel (NASDAQ:CRVL) Director Jeffrey Michael Sells 9,000 Shares

CorVel Corp. (NASDAQ:CRVL) Director Jeffrey Michael sold 9,000 shares of CorVel stock in a transaction 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 completion of the transaction, the director owned 559,721 shares in the company, valued at approximately $34,131,786.58. The trade was a 1.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

CorVel Price Performance

CRVL stock remained flat at $61.11 during midday trading on Wednesday. The company had a trading volume of 179,351 shares, compared to its average volume of 231,304. The company has a market cap of $3.10 billion, a PE ratio of 28.56 and a beta of 0.99. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $109.95. The firm has a 50 day moving average of $57.59 and a two-hundred day moving average of $60.43.

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

Institutional Investors Weigh In On CorVel

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of 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 buying an additional 45,071 shares during the last quarter. State Street Corp grew its position in shares of 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 buying an additional 30,987 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 stake in shares of CorVel in the 4th quarter valued at about $29,250,000. Finally, Qube Research & Technologies Ltd grew its position in shares of CorVel by 100.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock valued at $18,326,000 after buying an additional 118,879 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings lowered CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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).