SG Americas Securities LLC Boosts Holdings in CorVel Corp. $CRVL

SG Americas Securities LLC increased its stake in shares of CorVel Corp. (NASDAQ:CRVL) by 313.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,005 shares of the business services provider’s stock after acquiring an additional 35,630 shares during the quarter. SG Americas Securities LLC owned about 0.09% of CorVel worth $2,569,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of CorVel during the fourth quarter worth about $29,250,000. Qube Research & Technologies Ltd lifted its holdings in shares of 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 last quarter. Algert Global LLC boosted its position in shares of CorVel by 73.4% in the 3rd quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock valued at $16,843,000 after purchasing an additional 92,077 shares during the period. Cubist Systematic Strategies LLC boosted its position in shares of CorVel by 249.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock valued at $12,066,000 after purchasing an additional 83,757 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of CorVel by 588.2% in the 3rd quarter. Two Sigma Investments LP now owns 72,745 shares of the business services provider’s stock valued at $5,632,000 after purchasing an additional 62,175 shares during the period. 51.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at CorVel

In related news, Director Jeffrey J. Michael sold 9,000 shares of CorVel stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.98, for a total value of $548,820.00. Following the sale, the director directly owned 559,721 shares in the company, valued at $34,131,786.58. The trade was a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Yoss sold 1,999 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at $132,596.46. This represents a 47.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,249 shares of company stock valued at $807,126. Corporate insiders own 44.56% of the company’s stock.

CorVel Stock Up 1.4%

Shares of CorVel stock opened at $62.52 on Wednesday. CorVel Corp. has a 52-week low of $44.83 and a 52-week high of $104.99. The company’s 50-day simple moving average is $59.30 and its 200-day simple moving average is $59.24. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 29.21 and a beta of 0.99.

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

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).