OP Asset Management Ltd Makes New $1.33 Million Investment in CorVel Corp. $CRVL

OP Asset Management Ltd bought a new position in CorVel Corp. (NASDAQ:CRVL) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 24,276 shares of the business services provider’s stock, valued at approximately $1,327,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in CorVel during the third quarter worth about $31,000. Los Angeles Capital Management LLC purchased a new stake in CorVel in the 4th quarter valued at approximately $33,000. Eagle Bay Advisors LLC acquired a new position in CorVel during the 4th quarter worth approximately $37,000. Rockefeller Capital Management L.P. increased its position in CorVel by 66.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 574 shares of the business services provider’s stock worth $39,000 after purchasing an additional 230 shares during the period. Finally, 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. 51.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on CRVL shares. Weiss Ratings cut CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Insider Buying and Selling

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of the business’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 sale, the vice president directly owned 2,173 shares in the company, valued at approximately $132,596.46. The trade was a 47.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Michael sold 9,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.98, for a total value of $548,820.00. Following the completion of the transaction, the director owned 559,721 shares of the company’s stock, valued at approximately $34,131,786.58. This represents a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 13,249 shares of company stock valued at $807,126. 44.56% of the stock is owned by insiders.

CorVel Trading Down 2.1%

Shares of CRVL opened at $61.65 on Tuesday. CorVel Corp. has a twelve month low of $44.83 and a twelve month high of $105.50. The firm has a market capitalization of $3.13 billion, a P/E ratio of 28.81 and a beta of 0.99. The firm’s 50-day moving average is $59.17 and its two-hundred day moving average is $59.29.

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

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).