CorVel (NASDAQ:CRVL) Releases Quarterly Earnings Results

CorVel (NASDAQ:CRVL) released its quarterly earnings results on Tuesday. The business services provider reported $0.61 earnings per share (EPS) for the quarter, FiscalAI reports. CorVel had a return on equity of 30.15% and a net margin of 11.23%.The firm had revenue of $248.55 million for the quarter.

CorVel Stock Performance

NASDAQ:CRVL opened at $64.26 on Thursday. The stock’s 50-day simple moving average is $55.50 and its 200 day simple moving average is $61.82. The company has a market cap of $3.29 billion, a P/E ratio of 31.50 and a beta of 0.98. CorVel has a 52-week low of $44.83 and a 52-week high of $117.22.

Insider Activity

In related news, insider Maxim Shishin sold 2,400 shares of CorVel stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.00, for a total value of $129,600.00. Following the sale, the insider owned 7,050 shares of the company’s stock, valued at approximately $380,700. The trade was a 25.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 44.56% of the company’s stock.

Institutional Trading of CorVel

Hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. increased its position in CorVel by 147.4% during the third quarter. Federated Hermes Inc. now owns 381 shares of the business services provider’s stock worth $29,000 after buying an additional 227 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in CorVel during the third quarter worth approximately $31,000. Los Angeles Capital Management LLC acquired a new position in CorVel during the fourth quarter worth approximately $33,000. Eagle Bay Advisors LLC acquired a new position in CorVel during the fourth quarter worth approximately $37,000. Finally, Hantz Financial Services Inc. increased its position in CorVel by 61.3% during the third quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider’s stock worth $39,000 after buying an additional 190 shares during the last quarter. Institutional investors and hedge funds own 51.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

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).