Canada Pension Plan Investment Board Takes $1.08 Million Position in CorVel Corp. $CRVL

Canada Pension Plan Investment Board purchased a new stake in CorVel Corp. (NASDAQ:CRVL) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 17,300 shares of the business services provider’s stock, valued at approximately $1,082,000.

A number of other institutional investors have also recently added to or reduced their stakes in CRVL. Walleye Capital LLC purchased a new position in shares of CorVel during the 2nd quarter worth $3,308,000. NewEdge Wealth LLC purchased a new stake in shares of CorVel in the second quarter valued at about $1,956,000. BlackRock Inc. purchased a new stake in shares of CorVel in the second quarter valued at about $321,316,000. Callan Family Office LLC acquired a new stake in CorVel during the second quarter worth about $3,833,000. Finally, Deutsche Bank AG acquired a new stake in CorVel during the second quarter worth about $3,772,000. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insider Activity at CorVel

In related news, insider Maxim Shishin sold 2,250 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total transaction of $136,327.50. Following the completion of the transaction, the insider owned 7,050 shares of the company’s stock, valued at approximately $427,159.50. This trade represents a 24.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R Judd Jessup sold 1,262 shares of CorVel stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $70.64, for a total transaction of $89,147.68. Following the completion of the sale, the director owned 115,821 shares of the company’s stock, valued at $8,181,595.44. This trade represents a 1.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,174 shares of company stock valued at $1,033,676 in the last ninety days. Insiders own 39.72% of the company’s stock.

CorVel Trading Down 0.5%

NASDAQ CRVL opened at $68.88 on Tuesday. The stock has a market cap of $3.51 billion, a PE ratio of 30.61 and a beta of 0.98. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $93.45. The stock has a fifty day simple moving average of $63.63 and a 200-day simple moving average of $58.46.

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

Analysts Set New Price Targets

CRVL has been the topic of several recent analyst 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 raised shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

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).