State of Wyoming Buys New Shares in CorVel Corp. $CRVL

State of Wyoming bought a new position in shares of CorVel Corp. (NASDAQ:CRVL) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 14,246 shares of the business services provider’s stock, valued at approximately $891,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of CorVel in the 3rd quarter valued at about $31,000. Los Angeles Capital Management LLC bought a new stake in shares of CorVel in the 4th quarter valued at about $33,000. Rockefeller Capital Management L.P. raised 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 purchasing an additional 230 shares during the period. Quarry LP raised its holdings in shares of CorVel by 218.6% in the 3rd 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 period. Finally, Torren Management LLC acquired a new stake in CorVel in the 4th quarter valued at about $46,000. 51.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRVL. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. Weiss Ratings upgraded CorVel from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, CorVel currently has an average rating of “Hold”.

CorVel Price Performance

Shares of CorVel stock opened at $65.73 on Friday. The business has a fifty day simple moving average of $61.43 and a two-hundred day simple moving average of $57.64. CorVel Corp. has a 1 year low of $44.83 and a 1 year high of $93.71. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 29.21 and a beta of 0.98.

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

Insider Buying and Selling

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $61.02, for a total value of $121,978.98. Following the transaction, the vice president directly owned 2,173 shares of the company’s stock, valued at $132,596.46. This represents a 47.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey J. Michael sold 9,000 shares of the firm’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 owned 559,721 shares of the company’s stock, valued at $34,131,786.58. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,249 shares of company stock valued at $807,126. Company insiders own 39.72% 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).