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

Norges Bank bought a new stake in shares of CorVel Corp. (NASDAQ:CRVL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 432,251 shares of the business services provider’s stock, valued at approximately $29,250,000. Norges Bank owned approximately 0.85% of CorVel at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in CorVel by 15.6% during the 3rd quarter. Principal Financial Group Inc. now owns 162,111 shares of the business services provider’s stock valued at $12,551,000 after acquiring an additional 21,827 shares in the last quarter. Argent Capital Management LLC bought a new stake in shares of CorVel in the 4th quarter valued at approximately $1,800,000. Vanguard Group Inc. grew its stake in shares of CorVel by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,287,788 shares of the business services provider’s stock valued at $254,541,000 after buying an additional 45,071 shares in the last quarter. Algert Global LLC grew its stake in shares of CorVel by 73.4% in the 3rd quarter. Algert Global LLC now owns 217,559 shares of the business services provider’s stock valued at $16,843,000 after buying an additional 92,077 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of CorVel by 31.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 122,098 shares of the business services provider’s stock valued at $9,453,000 after buying an additional 29,320 shares in the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Analyst Ratings Changes

CRVL has been the subject of several recent research reports. Wall Street Zen raised CorVel from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings cut CorVel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, CorVel presently has a consensus rating of “Sell”.

Insiders Place Their Bets

In other CorVel news, VP Jennifer Yoss sold 1,999 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $61.02, for a total value of $121,978.98. Following the sale, the vice president directly owned 2,173 shares in the company, valued at $132,596.46. This represents a 47.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Maxim Shishin sold 2,400 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.00, for a total value of $129,600.00. Following the completion of the sale, the insider owned 7,050 shares in the company, valued at $380,700. This trade represents a 25.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 44.56% of the company’s stock.

CorVel Stock Up 2.1%

Shares of CRVL stock opened at $61.11 on Wednesday. CorVel Corp. has a 12 month low of $44.83 and a 12 month high of $109.95. The firm has a market cap of $3.10 billion, a PE ratio of 28.56 and a beta of 0.99. The stock has a 50 day moving average of $57.59 and a 200-day moving average of $60.43.

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

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).