Jeffrey Michael Sells 9,000 Shares of CorVel (NASDAQ:CRVL) Stock

CorVel Corp. (NASDAQ:CRVL) Director Jeffrey Michael sold 9,000 shares of the company’s 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. This represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

CorVel Stock Performance

NASDAQ:CRVL opened at $60.79 on Friday. The company has a fifty day moving average of $57.86 and a two-hundred day moving average of $60.27. The stock has a market capitalization of $3.08 billion, a PE ratio of 28.41 and a beta of 0.99. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $108.47.

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

Analysts Set New Price Targets

CRVL has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Weiss Ratings cut shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, CorVel has an average rating of “Sell”.

Institutional Investors Weigh In On CorVel

A number of hedge funds have recently modified their holdings of CRVL. Federated Hermes Inc. raised its position in shares of CorVel by 147.4% in the third quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock valued at $29,000 after buying an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CorVel in the third quarter valued at about $31,000. Los Angeles Capital Management LLC acquired a new stake in shares of CorVel in the fourth quarter valued at about $33,000. Eagle Bay Advisors LLC acquired a new stake in shares of CorVel in the fourth quarter valued at about $37,000. Finally, Hantz Financial Services Inc. raised its position in shares of CorVel by 61.3% in the third quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider’s stock valued at $39,000 after buying an additional 190 shares during the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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).