OneDigital Investment Advisors LLC Purchases New Holdings in CorVel Corp. $CRVL

OneDigital Investment Advisors LLC purchased a new stake in CorVel Corp. (NASDAQ:CRVL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,616 shares of the business services provider’s stock, valued at approximately $1,101,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of CorVel during the 4th quarter worth approximately $29,250,000. Bank of New York Mellon Corp acquired a new position in CorVel during the second quarter worth $11,439,000. Qube Research & Technologies Ltd raised its position in CorVel by 100.9% during the third quarter. Qube Research & Technologies Ltd now owns 236,713 shares of the business services provider’s stock worth $18,326,000 after acquiring an additional 118,879 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in CorVel by 249.0% during the second quarter. Cubist Systematic Strategies LLC now owns 117,395 shares of the business services provider’s stock worth $12,066,000 after acquiring an additional 83,757 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in CorVel by 328.4% in the first quarter. Quantinno Capital Management LP now owns 81,544 shares of the business services provider’s stock valued at $4,456,000 after acquiring an additional 62,508 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

CorVel Trading Up 1.7%

CRVL stock opened at $66.87 on Tuesday. The firm has a market capitalization of $3.41 billion, a PE ratio of 29.72 and a beta of 0.98. CorVel Corp. has a 1-year low of $44.83 and a 1-year high of $93.71. The business’s 50 day simple moving average is $61.57 and its 200 day simple moving average is $57.54.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other 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 ownership of the stock. The sale 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 dated 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 approximately $34,131,786.58. This represents a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 13,249 shares of company stock valued at $807,126 over the last ninety days. 39.72% of the stock is currently owned by company insiders.

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).