BlackRock Inc. Makes New Investment in CorVel Corp. $CRVL

BlackRock Inc. bought a new stake in CorVel Corp. (NASDAQ:CRVL) in the second quarter, HoldingsChannel.com reports. The firm bought 5,139,406 shares of the business services provider’s stock, valued at approximately $321,316,000. BlackRock Inc. owned about 0.10% of CorVel at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Deutsche Bank AG acquired a new stake in CorVel in the 2nd quarter worth about $3,772,000. OneDigital Investment Advisors LLC bought a new position in shares of CorVel during the second quarter worth approximately $1,101,000. Bank of New York Mellon Corp acquired a new stake in shares of CorVel in the second quarter valued at approximately $11,439,000. State of Wyoming bought a new stake in shares of CorVel in the second quarter valued at approximately $891,000. Finally, GSA Capital Partners LLP acquired a new stake in CorVel during the second quarter worth approximately $685,000. 51.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings upgraded CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Insiders Place Their Bets

In other CorVel news, insider Maxim Shishin sold 2,250 shares of the business’s 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 of the company’s stock, valued at approximately $427,159.50. The trade was a 24.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following the completion of the transaction, the director directly owned 559,721 shares of the company’s stock, valued at $34,131,786.58. This trade represents a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 13,350 shares of company stock valued at $834,080. 39.72% of the stock is currently owned by corporate insiders.

CorVel Price Performance

NASDAQ CRVL opened at $70.36 on Thursday. The business has a fifty day moving average price of $62.98 and a two-hundred day moving average price of $58.00. The stock has a market capitalization of $3.59 billion, a PE ratio of 31.27 and a beta of 0.98. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $93.45.

CorVel (NASDAQ:CRVL) last issued its quarterly earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.The company 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).