Norges Bank Buys Shares of 432,251 CorVel Corp. $CRVL

Norges Bank bought a new stake in CorVel Corp. (NASDAQ:CRVL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 432,251 shares of the business services provider’s stock, valued at approximately $29,250,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Federated Hermes Inc. raised its position in shares of 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 purchasing an additional 227 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of CorVel during the third quarter worth about $31,000. Eagle Bay Advisors LLC acquired a new stake in shares of CorVel during the fourth quarter worth about $37,000. Hantz Financial Services Inc. raised its position in shares of 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 purchasing an additional 190 shares during the period. Finally, Quarry LP raised its position in shares of CorVel by 218.6% during the third quarter. Quarry LP now owns 513 shares of the business services provider’s stock worth $40,000 after purchasing an additional 352 shares during the period. Institutional investors and hedge funds own 51.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CRVL. Weiss Ratings downgraded CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 6th. Wall Street Zen upgraded CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, CorVel has an average rating of “Sell”.

CorVel Price Performance

Shares of NASDAQ CRVL opened at $61.11 on Wednesday. The stock has a market capitalization of $3.10 billion, a PE ratio of 28.56 and a beta of 0.99. The business has a fifty day moving average price of $57.59 and a two-hundred day moving average price of $60.43. CorVel Corp. has a fifty-two week low of $44.83 and a fifty-two week high of $109.95.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings data on Tuesday, May 19th. The business services provider reported $0.61 earnings per share for the quarter. CorVel had a return on equity of 29.92% and a net margin of 11.51%.The firm had revenue of $248.55 million during the quarter.

Insiders Place Their Bets

In related news, insider Maxim Shishin sold 2,400 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.00, for a total transaction of $129,600.00. Following the sale, the insider owned 7,050 shares in the company, valued at $380,700. The trade was a 25.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jennifer Yoss sold 1,999 shares of the company’s 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 completion of the sale, the vice president owned 2,173 shares in the company, valued at $132,596.46. This trade represents a 47.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 44.56% of the company’s stock.

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).