CorVel Co. (NASDAQ:CRVL) issued its quarterly earnings results on Tuesday. The business services provider reported $0.46 earnings per share for the quarter, Bloomberg Earnings reports. The business had revenue of $137.61 million for the quarter. CorVel had a net margin of 6.38% and a return on equity of 25.38%.
Shares of CorVel (NASDAQ CRVL) traded up 0.84% on Wednesday, hitting $48.30. 8,287 shares of the stock traded hands. The company has a market cap of $905.82 million, a PE ratio of 31.99 and a beta of 0.78. The stock has a 50 day moving average of $47.71 and a 200 day moving average of $43.69. CorVel has a one year low of $31.00 and a one year high of $49.50.
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In other news, insider Diane Blaha sold 1,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $47.26, for a total value of $47,260.00. Following the sale, the insider now owns 4,576 shares in the company, valued at $216,261.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 50.96% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Texas Permanent School Fund raised its stake in CorVel by 0.8% in the second quarter. Texas Permanent School Fund now owns 7,122 shares of the business services provider’s stock worth $338,000 after buying an additional 59 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in CorVel by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 2,310 shares of the business services provider’s stock worth $110,000 after buying an additional 80 shares during the last quarter. Bessemer Group Inc. raised its stake in CorVel by 2.2% in the second quarter. Bessemer Group Inc. now owns 8,382 shares of the business services provider’s stock worth $398,000 after buying an additional 182 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in CorVel by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 39,222 shares of the business services provider’s stock worth $1,862,000 after buying an additional 247 shares during the last quarter. Finally, Algert Global LLC raised its stake in CorVel by 3.0% in the second quarter. Algert Global LLC now owns 30,343 shares of the business services provider’s stock worth $1,440,000 after buying an additional 886 shares during the last quarter. Hedge funds and other institutional investors own 44.76% of the company’s stock.
CorVel Company Profile
CorVel Corporation (Corvel) is a provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Company offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers.
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