CorVel (NASDAQ:CRVL) Shares Gap Up – Still a Buy?

CorVel Corp. (NASDAQ:CRVL)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $57.60, but opened at $60.24. CorVel shares last traded at $60.81, with a volume of 3,204 shares.

Wall Street Analysts Forecast Growth

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

CorVel Stock Performance

The stock has a market cap of $3.13 billion, a PE ratio of 28.87 and a beta of 0.99. The firm has a 50-day moving average price of $58.93 and a 200-day moving average price of $59.36.

CorVel (NASDAQ:CRVL) last released its quarterly earnings data on Tuesday, May 19th. The business services provider reported $0.61 earnings per share for the quarter. The business 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%.

Insider Activity at CorVel

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of CorVel 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 sale, the vice president owned 2,173 shares of the company’s stock, valued at approximately $132,596.46. This trade represents a 47.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total transaction 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 position. The SEC filing for this sale provides additional information. Insiders sold 13,249 shares of company stock valued at $807,126 over the last 90 days. Corporate insiders own 44.56% of the company’s stock.

Institutional Trading of CorVel

Large investors have recently added to or reduced their stakes in the business. Argent Capital Management LLC bought a new stake in CorVel during the fourth quarter valued at about $1,800,000. Algert Global LLC boosted its stake in shares of CorVel by 73.4% in the third quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock worth $16,843,000 after acquiring an additional 92,077 shares during the period. Vanguard Group Inc. grew its position in shares of CorVel by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock worth $254,541,000 after purchasing an additional 45,071 shares in the last quarter. M&T Bank Corp raised its stake in CorVel by 1,230.0% during the 4th quarter. M&T Bank Corp now owns 63,439 shares of the business services provider’s stock valued at $4,293,000 after purchasing an additional 58,669 shares during the period. Finally, Evergreen Capital Management LLC bought a new stake in CorVel during the 4th quarter valued at approximately $784,000. 51.36% of the stock is currently owned by institutional investors.

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).