OP Asset Management Ltd Buys New Stake in CorVel Corp. $CRVL

OP Asset Management Ltd bought a new stake in shares of CorVel Corp. (NASDAQ:CRVL) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 24,276 shares of the business services provider’s stock, valued at approximately $1,327,000.

Several other hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CorVel by 0.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider’s stock worth $1,640,000 after acquiring an additional 115 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of CorVel by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider’s stock valued at $1,636,000 after acquiring an additional 139 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CorVel by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,697 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 210 shares during the last quarter. Benjamin Edwards Inc. increased its position in CorVel by 6.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,843 shares of the business services provider’s stock worth $260,000 after purchasing an additional 218 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in CorVel by 66.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings downgraded shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, CorVel currently has an average rating of “Sell”.

CorVel Stock Down 2.1%

Shares of NASDAQ:CRVL opened at $61.65 on Tuesday. The company has a market cap of $3.13 billion, a P/E ratio of 28.81 and a beta of 0.99. The business has a fifty day simple moving average of $59.17 and a 200-day simple moving average of $59.29. CorVel Corp. has a 52 week low of $44.83 and a 52 week high of $105.50.

CorVel (NASDAQ:CRVL) last released its earnings results 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 firm had revenue of $248.55 million for the quarter.

Insider Transactions at CorVel

In related news, insider Maxim Shishin sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the sale, the insider directly owned 7,050 shares in the company, valued at approximately $427,159.50. The trade was a 24.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Michael sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total transaction of $548,820.00. Following 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,249 shares of company stock worth $807,126 in the last three months. Company insiders own 44.56% 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).