Edgestream Partners L.P. Has $401,000 Stock Holdings in CorVel Corp. $CRVL

Edgestream Partners L.P. trimmed its holdings in shares of CorVel Corp. (NASDAQ:CRVL) by 68.9% in the first quarter, Holdings Channel.com reports. The fund owned 7,343 shares of the business services provider’s stock after selling 16,304 shares during the quarter. Edgestream Partners L.P.’s holdings in CorVel were worth $401,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CRVL. Royal Bank of Canada raised its holdings in shares of CorVel by 24.8% in the 1st quarter. Royal Bank of Canada now owns 55,134 shares of the business services provider’s stock worth $3,013,000 after buying an additional 10,957 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of CorVel by 1.5% in the 1st quarter. Empowered Funds LLC now owns 15,815 shares of the business services provider’s stock worth $864,000 after purchasing an additional 239 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of CorVel by 328.4% in the 1st quarter. Quantinno Capital Management LP now owns 81,544 shares of the business services provider’s stock worth $4,456,000 after purchasing an additional 62,508 shares during the last quarter. Granahan Investment Management LLC increased its position in shares of CorVel by 36.2% during the 1st quarter. Granahan Investment Management LLC now owns 79,896 shares of the business services provider’s stock worth $4,366,000 after purchasing an additional 21,217 shares in the last quarter. Finally, Caxton Associates LLP increased its position in shares of CorVel by 27.0% during the 1st quarter. Caxton Associates LLP now owns 18,513 shares of the business services provider’s stock worth $1,012,000 after purchasing an additional 3,932 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CorVel news, insider Maxim Shishin sold 2,250 shares of the 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 completion of the transaction, the insider owned 7,050 shares in the company, valued at approximately $427,159.50. This represents a 24.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 559,721 shares in the company, valued at approximately $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 13,249 shares of company stock valued at $807,126. Company insiders own 39.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Wall Street Zen raised 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, According to MarketBeat, CorVel presently has an average rating of “Hold”.

CorVel Stock Up 5.9%

Shares of CRVL stock opened at $62.57 on Thursday. CorVel Corp. has a 12-month low of $44.83 and a 12-month high of $93.71. The firm has a fifty day moving average of $61.01 and a 200-day moving average of $57.88. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 29.24 and a beta of 0.98.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The firm had revenue of $259.93 million for the quarter.

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).