CorVel Corp. $CRVL Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in CorVel Corp. (NASDAQ:CRVL) by 313.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,005 shares of the business services provider’s stock after buying an additional 35,630 shares during the period. SG Americas Securities LLC’s holdings in CorVel were worth $2,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of CorVel during the 4th quarter worth approximately $29,250,000. Qube Research & Technologies Ltd increased its stake in CorVel by 100.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock valued at $18,326,000 after purchasing an additional 118,879 shares in the last quarter. Algert Global LLC raised its holdings in CorVel by 73.4% during the third quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock worth $16,843,000 after purchasing an additional 92,077 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in CorVel by 249.0% during the second quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock worth $12,066,000 after purchasing an additional 83,757 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in CorVel by 588.2% during the third quarter. Two Sigma Investments LP now owns 72,745 shares of the business services provider’s stock worth $5,632,000 after purchasing an additional 62,175 shares in the last quarter. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CorVel

In other news, Director Jeffrey J. Michael sold 9,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following the completion of the transaction, the director directly owned 559,721 shares of the company’s stock, valued at $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jennifer Yoss sold 1,999 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total value of $121,978.98. Following the completion of the transaction, the vice president directly owned 2,173 shares of the company’s stock, valued at approximately $132,596.46. This trade represents a 47.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,249 shares of company stock worth $807,126. 44.56% of the stock is owned by insiders.

Analysts Set New Price Targets

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

CorVel Price Performance

CRVL stock opened at $62.52 on Wednesday. The company’s 50 day simple moving average is $59.30 and its 200-day simple moving average is $59.24. The firm has a market capitalization of $3.19 billion, a PE ratio of 29.21 and a beta of 0.99. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $104.99.

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

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).