Renaissance Technologies LLC Has $88.41 Million Stake in CorVel Corp. $CRVL

Renaissance Technologies LLC reduced its holdings in CorVel Corp. (NASDAQ:CRVL) by 4.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,617,830 shares of the business services provider’s stock after selling 68,500 shares during the quarter. Renaissance Technologies LLC’s holdings in CorVel were worth $88,414,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of CorVel during the 3rd quarter valued at about $31,000. Los Angeles Capital Management LLC acquired a new position in shares of CorVel in the 4th quarter valued at approximately $33,000. Eagle Bay Advisors LLC acquired a new position in shares of CorVel in the 4th quarter valued at approximately $37,000. Rockefeller Capital Management L.P. increased its stake in CorVel by 66.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock worth $39,000 after purchasing an additional 230 shares in the last quarter. Finally, Quarry LP raised its holdings in CorVel by 218.6% during the 3rd quarter. Quarry LP now owns 513 shares of the business services provider’s stock worth $40,000 after buying an additional 352 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Price Performance

CRVL stock opened at $59.86 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 27.97 and a beta of 0.98. The business has a 50-day moving average of $61.08 and a 200-day moving average of $58.45. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $93.71.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRVL. Weiss Ratings raised shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Insider Transactions at CorVel

In other news, VP Jennifer Yoss sold 1,999 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total value of $121,978.98. Following the sale, the vice president owned 2,173 shares of the company’s stock, valued at $132,596.46. The trade was a 47.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey J. Michael sold 9,000 shares of the stock in a transaction 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 owned 559,721 shares of the company’s stock, valued at $34,131,786.58. The trade was a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 13,249 shares of company stock valued at $807,126 in the last ninety days. 39.72% of the stock is currently owned by corporate 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).