29,783 Shares in CorVel Corp. $CRVL Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new position in CorVel Corp. (NASDAQ:CRVL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 29,783 shares of the business services provider’s stock, valued at approximately $1,862,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of CorVel in the second quarter worth about $321,316,000. Norges Bank purchased a new stake in CorVel during the 4th quarter valued at about $29,250,000. Bank of New York Mellon Corp bought a new position in CorVel during the 2nd quarter worth approximately $11,439,000. 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 worth $18,326,000 after purchasing an additional 118,879 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in CorVel by 249.0% in the 2nd 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 period. 51.36% of the stock is currently owned by institutional investors.

Insider Transactions at CorVel

In other news, VP Jennifer Yoss sold 2,100 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $70.92, for a total transaction of $148,932.00. Following the transaction, the vice president directly owned 2,173 shares of the company’s stock, valued at approximately $154,109.16. The trade was a 49.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey J. Michael sold 9,000 shares of CorVel stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total value of $548,820.00. Following the sale, the director directly owned 559,721 shares in the company, valued at approximately $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 13,350 shares of company stock worth $834,080. 39.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

CorVel Trading Down 1.5%

Shares of NASDAQ:CRVL opened at $70.14 on Wednesday. The company has a 50-day moving average price of $62.73 and a 200-day moving average price of $57.84. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 31.17 and a beta of 0.98. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $93.45.

CorVel (NASDAQ:CRVL) last posted its earnings results on Tuesday, August 4th. The business services provider reported $0.63 earnings per share (EPS) for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.72%.The company had revenue of $259.93 million for the quarter.

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).