Norges Bank Buys New Stake in CorVel Co. (NASDAQ:CRVL)

Norges Bank purchased a new position in shares of CorVel Co. (NASDAQ:CRVL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 372,042 shares of the business services provider’s stock, valued at approximately $41,393,000. Norges Bank owned 0.73% of CorVel as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Fifth Third Bancorp raised its position in CorVel by 45.9% during the fourth quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 101 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of CorVel during the 4th quarter valued at approximately $37,000. US Bancorp DE lifted its stake in shares of CorVel by 225.4% in the 4th quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC boosted its holdings in CorVel by 175.2% during the fourth quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock worth $48,000 after buying an additional 275 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in CorVel by 216.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock valued at $59,000 after buying an additional 364 shares during the period. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insider Transactions at CorVel

In other CorVel news, Director Jeffrey J. Michael sold 10,477 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total transaction of $1,220,046.65. Following the completion of the sale, the director now directly owns 568,310 shares in the company, valued at approximately $66,179,699.50. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Hoops sold 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $116.39, for a total value of $1,187,178.00. Following the completion of the transaction, the director now owns 118,213 shares in the company, valued at approximately $13,758,811.07. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,200 shares of company stock valued at $3,824,115 over the last 90 days. Corporate insiders own 47.57% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th.

CorVel Trading Down 0.5 %

Shares of CRVL stock opened at $110.51 on Friday. The company has a market capitalization of $5.68 billion, a P/E ratio of 65.01 and a beta of 1.06. CorVel Co. has a 12-month low of $76.20 and a 12-month high of $128.61. The business’s 50 day moving average is $112.27 and its two-hundred day moving average is $114.73.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Tuesday, February 4th. The business services provider reported $0.46 earnings per share (EPS) for the quarter. CorVel had a net margin of 10.12% and a return on equity of 32.22%.

CorVel Company Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.