CorVel (NASDAQ:CRVL) Announces Quarterly Earnings Results

CorVel (NASDAQ:CRVL) issued its earnings results on Tuesday. The business services provider reported $0.47 earnings per share for the quarter, Zacks reports. CorVel had a return on equity of 31.72% and a net margin of 11.28%.

CorVel Stock Up 0.2%

CorVel stock opened at $69.75 on Tuesday. The company’s 50-day moving average price is $69.70 and its 200-day moving average price is $77.27. The company has a market cap of $3.57 billion, a PE ratio of 34.36 and a beta of 1.06. CorVel has a twelve month low of $65.47 and a twelve month high of $128.61.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of CorVel in a research report on Friday, January 9th. Wall Street Zen lowered shares of CorVel from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, CorVel presently has a consensus rating of “Hold”.

Insider Buying and Selling

In other news, Director R Judd Jessup sold 7,076 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $76.94, for a total value of $544,427.44. Following the transaction, the director directly owned 115,045 shares in the company, valued at approximately $8,851,562.30. This represents a 5.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark E. Bertels sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $72.35, for a total value of $86,820.00. Following the completion of the sale, the executive vice president owned 2,594 shares of the company’s stock, valued at $187,675.90. The trade was a 31.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,733 shares of company stock valued at $894,686. Company insiders own 44.56% of the company’s stock.

Institutional Trading of CorVel

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new stake in shares of CorVel in the 3rd quarter valued at about $240,000. CANADA LIFE ASSURANCE Co lifted its position in CorVel by 13.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 26,453 shares of the business services provider’s stock valued at $2,041,000 after acquiring an additional 3,148 shares during the last quarter. Voleon Capital Management LP boosted its stake in CorVel by 832.1% in the third quarter. Voleon Capital Management LP now owns 22,584 shares of the business services provider’s stock valued at $1,748,000 after acquiring an additional 20,161 shares in the last quarter. Voloridge Investment Management LLC increased its position in shares of CorVel by 100.5% during the third quarter. Voloridge Investment Management LLC now owns 112,181 shares of the business services provider’s stock worth $8,685,000 after purchasing an additional 56,220 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of CorVel by 83.2% during the 3rd quarter. Verition Fund Management LLC now owns 35,568 shares of the business services provider’s stock valued at $2,754,000 after purchasing an additional 16,148 shares during the last quarter. Institutional investors own 51.36% of the company’s stock.

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).