CorVel (CRVL) Posts Quarterly Earnings Results

CorVel (NASDAQ:CRVL) posted its quarterly earnings data on Thursday. The business services provider reported $0.63 EPS for the quarter, Morningstar.com reports. CorVel had a net margin of 7.45% and a return on equity of 23.84%. The business had revenue of $151.08 million during the quarter.

Shares of NASDAQ:CRVL opened at $72.86 on Friday. The company has a market cap of $1.32 billion, a PE ratio of 30.76 and a beta of 0.72. CorVel has a twelve month low of $50.10 and a twelve month high of $75.10.

Separately, BidaskClub lowered shares of CorVel from a “buy” rating to a “hold” rating in a research note on Thursday, February 7th.

In other news, major shareholder Corstar Holdings Inc sold 1,520 shares of CorVel stock in a transaction on Friday, April 12th. The shares were sold at an average price of $68.39, for a total value of $103,952.80. Following the transaction, the insider now directly owns 6,863,908 shares of the company’s stock, valued at approximately $469,422,668.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 179,345 shares of company stock valued at $12,544,159 in the last 90 days. Insiders own 51.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new position in shares of CorVel in the 4th quarter valued at $25,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of CorVel in the 1st quarter valued at $30,000. Financial Gravity Wealth Inc. acquired a new position in shares of CorVel in the 1st quarter valued at $48,000. SEI Investments Co acquired a new position in shares of CorVel in the 1st quarter valued at $59,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of CorVel by 818.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the business services provider’s stock valued at $137,000 after acquiring an additional 1,874 shares during the period. 46.22% of the stock is currently owned by institutional investors and hedge funds.

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CorVel Company Profile

CorVel Corporation provides workers' compensation solutions for employers, third party administrators, insurance companies, and government agencies seeking to control costs and promote positive outcomes. It applies technology, intelligence, and a human touch to the risk management process that enables its clients to intervene early and connected to the critical intelligence they need to proactively manage risk.

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Earnings History for CorVel (NASDAQ:CRVL)

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