Horizon Investments LLC Takes $606,000 Position in CorVel Corp. $CRVL

Horizon Investments LLC acquired a new stake in shares of CorVel Corp. (NASDAQ:CRVL) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 8,958 shares of the business services provider’s stock, valued at approximately $606,000.

Other hedge funds have also recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of CorVel by 147.4% during the third quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CorVel during the third quarter valued at approximately $31,000. Eagle Bay Advisors LLC purchased a new position in shares of CorVel during the fourth quarter valued at approximately $37,000. Hantz Financial Services Inc. raised its holdings in shares of CorVel by 61.3% during the third quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 190 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of CorVel by 218.6% during the third quarter. Quarry LP now owns 513 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 352 shares during the last quarter. 51.36% of the stock is owned by hedge funds and other institutional investors.

CorVel Trading Up 0.8%

Shares of CRVL stock opened at $58.52 on Friday. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $117.22. The stock has a market cap of $2.99 billion, a P/E ratio of 28.69 and a beta of 0.98. The company has a 50 day simple moving average of $54.45 and a two-hundred day simple moving average of $62.84.

CorVel (NASDAQ:CRVL) last announced its earnings results on Tuesday, February 3rd. The business services provider reported $0.47 EPS for the quarter. CorVel had a net margin of 11.23% and a return on equity of 30.15%. The business had revenue of $235.63 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, CorVel currently has a consensus rating of “Sell”.

Insider Buying and Selling

In other CorVel news, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $54.00, for a total transaction of $129,600.00. Following the completion of the sale, the insider directly owned 7,050 shares of the company’s stock, valued at approximately $380,700. This represents a 25.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 44.56% of the company’s stock.

CorVel 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).