372,042 Shares in CorVel Co. (NASDAQ:CRVL) Purchased by Norges Bank

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

Several other hedge funds have also made changes to their positions in CRVL. Fifth Third Bancorp raised its position in shares of CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after buying an additional 101 shares during the period. Jones Financial Companies Lllp acquired a new stake in CorVel during the fourth quarter worth $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 last quarter. GAMMA Investing LLC grew its holdings in shares of CorVel by 175.2% during the 4th quarter. GAMMA Investing LLC now owns 432 shares of the business services provider’s stock worth $48,000 after purchasing an additional 275 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of CorVel by 216.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 532 shares of the business services provider’s stock worth $59,000 after purchasing an additional 364 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

CorVel Stock Performance

CorVel stock opened at $110.51 on Friday. The company has a market capitalization of $5.68 billion, a PE ratio of 65.01 and a beta of 1.06. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The firm has a 50 day moving average price of $112.27 and a 200 day moving average price of $114.73.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at CorVel

In other news, CFO Brandon O’brien sold 1,523 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total transaction of $182,089.88. Following the sale, the chief financial officer now owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. This represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Hoops sold 10,200 shares of CorVel stock in a transaction 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 of the company’s stock, valued at approximately $13,758,811.07. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is currently owned by corporate insiders.

About CorVel

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.