CorVel Corp. $CRVL Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in CorVel Corp. (NASDAQ:CRVL) by 39.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,458 shares of the business services provider’s stock after selling 18,038 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.05% of CorVel worth $1,501,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CRVL. State Street Corp raised its holdings in CorVel by 2.7% during the fourth quarter. State Street Corp now owns 1,179,572 shares of the business services provider’s stock worth $79,822,000 after purchasing an additional 30,987 shares in the last quarter. Geode Capital Management LLC grew its position in shares of CorVel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider’s stock valued at $62,796,000 after buying an additional 28,666 shares during the last quarter. Norges Bank purchased a new position in shares of CorVel in the 4th quarter valued at $29,250,000. Qube Research & Technologies Ltd raised its stake in CorVel by 100.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock worth $18,326,000 after acquiring an additional 118,879 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in CorVel by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 221,070 shares of the business services provider’s stock worth $17,115,000 after acquiring an additional 2,798 shares in the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRVL shares. Weiss Ratings raised 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 report on Saturday, May 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

CorVel Trading Up 1.0%

CRVL stock opened at $60.06 on Friday. The company has a market capitalization of $3.06 billion, a P/E ratio of 28.07 and a beta of 0.98. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $93.71. The business has a 50 day simple moving average of $61.03 and a 200-day simple moving average of $58.12.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, May 19th. The business services provider reported $0.61 EPS for the quarter. The business had revenue of $248.55 million for the quarter. CorVel had a net margin of 11.51% and a return on equity of 29.92%.

Insider Buying and Selling at CorVel

In related news, Director Jeffrey J. Michael sold 9,000 shares of the firm’s 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 transaction, the director owned 559,721 shares of the company’s stock, valued at $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Maxim Shishin sold 2,250 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 7,050 shares in the company, valued at $427,159.50. This trade represents a 24.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 13,249 shares of company stock worth $807,126. 39.72% of the stock is owned by company insiders.

CorVel Company Profile

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).