Freestone Grove Partners LP Makes New Investment in CorVel Corp. $CRVL

Freestone Grove Partners LP bought a new stake in CorVel Corp. (NASDAQ:CRVL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,322 shares of the business services provider’s stock, valued at approximately $1,020,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its holdings in CorVel by 12.5% in the 1st quarter. Royal Bank of Canada now owns 51,261 shares of the business services provider’s stock valued at $5,739,000 after purchasing an additional 5,703 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of CorVel by 4.0% during the 1st quarter. AQR Capital Management LLC now owns 26,468 shares of the business services provider’s stock worth $2,964,000 after buying an additional 1,013 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of CorVel by 11.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,800 shares of the business services provider’s stock valued at $425,000 after buying an additional 389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CorVel by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,846 shares of the business services provider’s stock valued at $1,774,000 after buying an additional 702 shares during the period. Finally, Millennium Management LLC lifted its holdings in CorVel by 127.4% in the first quarter. Millennium Management LLC now owns 48,182 shares of the business services provider’s stock valued at $5,395,000 after acquiring an additional 26,990 shares during the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CorVel

In related news, Director R Judd Jessup sold 1,262 shares of CorVel stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $70.64, for a total value of $89,147.68. Following the completion of the sale, the director owned 115,821 shares in the company, valued at approximately $8,181,595.44. This trade represents a 1.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Yoss sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $70.92, for a total value of $148,932.00. Following the completion of the sale, the vice president directly owned 2,173 shares in the company, valued at approximately $154,109.16. The trade was a 49.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,174 shares of company stock worth $1,033,676 over the last quarter. Company insiders own 39.72% of the company’s stock.

CorVel Price Performance

Shares of CRVL stock opened at $69.24 on Friday. CorVel Corp. has a 1-year low of $44.83 and a 1-year high of $93.45. The firm has a market cap of $3.53 billion, a PE ratio of 30.77 and a beta of 0.98. The company has a 50-day moving average of $63.41 and a two-hundred day moving average of $58.22.

CorVel (NASDAQ:CRVL) last released 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 net margin of 11.72% and a return on equity of 29.92%. The business had revenue of $259.93 million for the quarter.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report 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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently 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).