State of Wyoming Acquires Shares of 14,246 CorVel Corp. $CRVL

State of Wyoming acquired a new position in shares of CorVel Corp. (NASDAQ:CRVL) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 14,246 shares of the business services provider’s stock, valued at approximately $891,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of CorVel by 2.7% in the fourth quarter. State Street Corp now owns 1,179,572 shares of the business services provider’s stock valued at $79,822,000 after acquiring an additional 30,987 shares in the last quarter. Geode Capital Management LLC raised its stake in CorVel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 927,845 shares of the business services provider’s stock worth $62,796,000 after purchasing an additional 28,666 shares in the last quarter. Norges Bank bought a new stake in CorVel in the 4th quarter valued at about $29,250,000. Qube Research & Technologies Ltd boosted its holdings in CorVel by 100.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock valued at $18,326,000 after purchasing an additional 118,879 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in CorVel by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 221,070 shares of the business services provider’s stock valued at $17,115,000 after purchasing an additional 2,798 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

Analyst Upgrades and Downgrades

CRVL has been the topic of several recent research reports. Wall Street Zen raised shares of CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings upgraded shares of CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, CorVel currently has an average rating of “Hold”.

Insiders Place Their Bets

In other news, insider Maxim Shishin sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $60.59, for a total value of $136,327.50. Following the completion of the transaction, the insider directly owned 7,050 shares in the company, valued at approximately $427,159.50. The trade was a 24.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey J. Michael sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 of the company’s stock, valued at approximately $34,131,786.58. This trade represents a 1.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,249 shares of company stock worth $807,126 over the last ninety days. Corporate insiders own 39.72% of the company’s stock.

CorVel Stock Performance

NASDAQ:CRVL opened at $65.73 on Friday. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 29.21 and a beta of 0.98. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $93.71. The stock has a fifty day moving average price of $61.43 and a 200-day moving average price of $57.64.

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

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).