M&T Bank Corp lifted its position in shares of CorVel Corp. (NASDAQ:CRVL - Free Report) by 1,230.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,439 shares of the business services provider's stock after buying an additional 58,669 shares during the quarter. M&T Bank Corp owned approximately 0.12% of CorVel worth $4,293,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CRVL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CorVel by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,961 shares of the business services provider's stock valued at $1,640,000 after acquiring an additional 115 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of CorVel by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,918 shares of the business services provider's stock valued at $1,636,000 after purchasing an additional 139 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of CorVel by 1.7% in the third quarter. Arizona State Retirement System now owns 9,113 shares of the business services provider's stock valued at $706,000 after purchasing an additional 155 shares in the last quarter. Hantz Financial Services Inc. grew 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 valued at $39,000 after purchasing an additional 190 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of CorVel by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,697 shares of the business services provider's stock worth $962,000 after purchasing an additional 210 shares in the last quarter. 51.36% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Maxim Shishin sold 2,400 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $380,700. This represents a 25.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 44.56% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings downgraded CorVel from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, CorVel currently has a consensus rating of "Sell".
Read Our Latest Research Report on CorVel
CorVel Stock Performance
CorVel stock opened at $57.33 on Monday. The stock has a market cap of $2.93 billion, a PE ratio of 28.10 and a beta of 1.05. The stock has a 50-day moving average price of $53.30 and a 200 day moving average price of $63.55. CorVel Corp. has a 52 week low of $44.83 and a 52 week high of $117.22.
CorVel (NASDAQ:CRVL - Get Free Report) last released its earnings results on Tuesday, February 3rd. The business services provider reported $0.47 earnings per share (EPS) for the quarter. The company had revenue of $235.63 million for the quarter. CorVel had a net margin of 11.23% and a return on equity of 30.15%.
CorVel Profile
(
Free Report)
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).
Featured Articles
Want to see what other hedge funds are holding CRVL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CorVel Corp. (NASDAQ:CRVL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider CorVel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CorVel wasn't on the list.
While CorVel currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
