Louisiana State Employees Retirement System Makes New Investment in CorVel Corp. $CRVL

Louisiana State Employees Retirement System bought a new stake in CorVel Corp. (NASDAQ:CRVL) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 13,800 shares of the business services provider’s stock, valued at approximately $754,000.

Several other hedge funds have also recently modified their holdings of CRVL. Argent Capital Management LLC acquired a new position in CorVel in the 4th quarter valued at $1,800,000. Algert Global LLC boosted its holdings in shares of CorVel by 73.4% in the third quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock valued at $16,843,000 after acquiring an additional 92,077 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of CorVel by 1,230.0% in the fourth quarter. M&T Bank Corp now owns 63,439 shares of the business services provider’s stock valued at $4,293,000 after acquiring an additional 58,669 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of CorVel during the fourth quarter worth about $784,000. Finally, Tudor Investment Corp ET AL raised its holdings in CorVel by 17.8% during the third quarter. Tudor Investment Corp ET AL now owns 114,116 shares of the business services provider’s stock worth $8,835,000 after purchasing an additional 17,233 shares in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages 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 reissued a “sell (d+)” rating on shares of CorVel in a research note on Thursday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, CorVel has a consensus rating of “Sell”.

CorVel Trading Up 1.6%

Shares of NASDAQ CRVL traded up $1.04 during midday trading on Tuesday, reaching $64.93. 4,216 shares of the stock were exchanged, compared to its average volume of 233,117. The stock has a 50 day moving average price of $59.93 and a 200-day moving average price of $59.06. The company has a market capitalization of $3.31 billion, a P/E ratio of 30.34 and a beta of 0.98. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $101.71.

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

Insider Buying and Selling

In related news, VP Jennifer Yoss sold 1,999 shares of CorVel stock in a transaction 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 sale, the vice president owned 2,173 shares in the company, valued at approximately $132,596.46. The trade was a 47.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Maxim Shishin sold 2,250 shares of the business’s stock in a transaction 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 13,249 shares of company stock valued at $807,126. Corporate insiders own 39.72% of the company’s stock.

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).