M&T Bank Corp Increases Stock Holdings in CorVel Corp. $CRVL

M&T Bank Corp boosted its holdings in CorVel Corp. (NASDAQ:CRVL) by 1,230.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,439 shares of the business services provider’s stock after purchasing an additional 58,669 shares during the quarter. M&T Bank Corp’s holdings in CorVel were worth $4,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake in CorVel by 147.4% in the 3rd 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 shares of CorVel during the 3rd quarter valued at about $31,000. Eagle Bay Advisors LLC purchased a new position in shares of CorVel during the 4th quarter worth about $37,000. Hantz Financial Services Inc. boosted its position in shares of CorVel by 61.3% in the third quarter. Hantz Financial Services Inc. now owns 500 shares of the business services provider’s stock worth $39,000 after acquiring an additional 190 shares during the last quarter. Finally, Quarry LP grew its holdings in CorVel by 218.6% in the third quarter. Quarry LP now owns 513 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 352 shares during the period. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

CorVel Stock Performance

NASDAQ CRVL opened at $57.33 on Monday. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 28.10 and a beta of 1.05. CorVel Corp. has a one year low of $44.83 and a one year high of $117.22. The company’s 50 day moving average price is $53.30 and its 200 day moving average price is $63.55.

CorVel (NASDAQ:CRVL) last announced its quarterly earnings results on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share for the quarter. CorVel had a net margin of 11.23% and a return on equity of 30.15%. The firm had revenue of $235.63 million for the quarter.

Insider Activity at CorVel

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat, CorVel currently has a consensus rating of “Sell”.

CorVel Company Profile

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).