CorVel (NASDAQ:CRVL) Shares Gap Up – What’s Next?

Shares of CorVel Corp. (NASDAQ:CRVL) gapped up prior to trading 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 changing hands.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Weiss Ratings downgraded shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

CorVel Stock Performance

The business has a 50-day simple moving average of $58.64 and a two-hundred day simple moving average of $59.48. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 28.74 and a beta of 0.99.

CorVel (NASDAQ:CRVL) last released 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 business had revenue of $248.55 million for the quarter.

Insider Activity at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 9,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total transaction of $548,820.00. Following the completion of the transaction, the director owned 559,721 shares in the company, valued at approximately $34,131,786.58. This represents a 1.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Yoss sold 1,999 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total transaction of $121,978.98. Following the completion of the sale, the vice president owned 2,173 shares of the company’s stock, valued at $132,596.46. This trade represents a 47.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,249 shares of company stock worth $807,126 in the last three months. Insiders own 44.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in CorVel in the 3rd quarter valued at approximately $31,000. Los Angeles Capital Management LLC purchased a new position in shares of CorVel during the 4th quarter worth approximately $33,000. Quarry LP raised its stake in shares of CorVel by 218.6% during the 3rd quarter. Quarry LP now owns 513 shares of the business services provider’s stock worth $40,000 after buying an additional 352 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of CorVel in the 4th quarter valued at approximately $37,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of CorVel by 66.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock valued at $39,000 after buying an additional 230 shares during the period. 51.36% of the stock is currently owned by institutional investors and hedge funds.

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).