CorVel (CRVL) Announces Quarterly Earnings Results

CorVel (NASDAQ:CRVL) released its earnings results on Tuesday. The business services provider reported $0.50 EPS for the quarter, Bloomberg Earnings reports. The firm had revenue of $140.73 million for the quarter. CorVel had a net margin of 6.01% and a return on equity of 22.68%.

CorVel (NASDAQ:CRVL) traded down $1.75 during trading on Wednesday, reaching $52.70. 16,008 shares of the company’s stock traded hands, compared to its average volume of 37,333. The firm has a market cap of $1,011.85, a PE ratio of 32.41 and a beta of 0.73. CorVel has a 52-week low of $37.41 and a 52-week high of $61.20.

Separately, BidaskClub cut shares of CorVel from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th.

In other CorVel news, insider Maxim Shishin sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $57.26, for a total transaction of $57,260.00. Following the transaction, the insider now owns 1,000 shares of the company’s stock, valued at approximately $57,260. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 50.96% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CRVL. Schwab Charles Investment Management Inc. increased its stake in CorVel by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 39,222 shares of the business services provider’s stock valued at $1,862,000 after buying an additional 247 shares during the period. Legal & General Group Plc increased its stake in CorVel by 7.8% during the 2nd quarter. Legal & General Group Plc now owns 18,547 shares of the business services provider’s stock valued at $880,000 after buying an additional 1,347 shares during the period. Principal Financial Group Inc. boosted its position in shares of CorVel by 0.8% during the 2nd quarter. Principal Financial Group Inc. now owns 77,822 shares of the business services provider’s stock valued at $3,693,000 after purchasing an additional 607 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of CorVel by 1.3% during the 2nd quarter. Wells Fargo & Company MN now owns 8,534 shares of the business services provider’s stock valued at $405,000 after purchasing an additional 106 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of CorVel by 4.0% during the 2nd quarter. Teachers Advisors LLC now owns 22,626 shares of the business services provider’s stock valued at $1,074,000 after purchasing an additional 872 shares in the last quarter. 43.72% of the stock is currently owned by hedge funds and other institutional investors.

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CorVel Company Profile

CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.

Earnings History for CorVel (NASDAQ:CRVL)

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