CorVel (NASDAQ:CRVL) Shares Down 5.7% – Here’s Why

CorVel Corp. (NASDAQ:CRVL)’s stock price fell 5.7% during trading on Thursday . The stock traded as low as $61.75 and last traded at $60.62. 8,610 shares traded hands during trading, a decline of 96% from the average session volume of 229,025 shares. The stock had previously closed at $64.26.

Analyst Ratings Changes

Separately, Weiss Ratings lowered CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

CorVel Trading Up 1.9%

The business has a 50 day moving average of $55.92 and a 200-day moving average of $61.74. The stock has a market cap of $3.21 billion, a PE ratio of 29.32 and a beta of 0.98.

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

Insider Transactions at CorVel

In related news, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.00, for a total value of $129,600.00. Following the sale, the insider owned 7,050 shares of the company’s stock, valued at approximately $380,700. This represents a 25.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 44.56% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CRVL. Federated Hermes Inc. lifted its stake in shares of CorVel by 147.4% during the 3rd quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock worth $29,000 after purchasing an additional 227 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new position in shares of CorVel during the 3rd quarter worth $31,000. Los Angeles Capital Management LLC purchased a new position in shares of CorVel during the 4th quarter worth $33,000. Eagle Bay Advisors LLC purchased a new position in shares of CorVel during the 4th quarter worth $37,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of CorVel by 61.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider’s stock worth $39,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

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).