Granahan Investment Management LLC Has $4.37 Million Stock Position in CorVel Corp. $CRVL

Granahan Investment Management LLC boosted its holdings in shares of CorVel Corp. (NASDAQ:CRVL) by 36.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,896 shares of the business services provider’s stock after purchasing an additional 21,217 shares during the period. Granahan Investment Management LLC owned about 0.16% of CorVel worth $4,366,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of CorVel in the 3rd quarter valued at $31,000. Los Angeles Capital Management LLC acquired a new stake in CorVel in the fourth quarter valued at about $33,000. Eagle Bay Advisors LLC acquired a new stake in CorVel in the fourth quarter valued at about $37,000. Rockefeller Capital Management L.P. grew its position in CorVel by 66.9% in the fourth 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 during the last quarter. Finally, Quarry LP grew its position in CorVel by 218.6% in the third quarter. Quarry LP now owns 513 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 352 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Stock Performance

Shares of CRVL opened at $59.86 on Friday. CorVel Corp. has a 52 week low of $44.83 and a 52 week high of $93.71. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 27.97 and a beta of 0.98. The stock has a fifty day moving average of $61.08 and a 200-day moving average of $58.45.

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. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The business had revenue of $248.55 million for the quarter.

Insider Activity

In other news, insider Maxim Shishin sold 2,250 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the transaction, the insider owned 7,050 shares of the company’s stock, valued at $427,159.50. This represents a 24.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 $132,596.46. This represents a 47.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 13,249 shares of company stock valued at $807,126. 39.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRVL shares. Weiss Ratings raised shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 16th. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, CorVel has an average rating of “Hold”.

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).