CorVel Co. (NASDAQ:CRVL) Shares Purchased by M&T Bank Corp

M&T Bank Corp increased its stake in shares of CorVel Co. (NASDAQ:CRVL - Free Report) by 201.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,538 shares of the business services provider's stock after purchasing an additional 3,703 shares during the quarter. M&T Bank Corp's holdings in CorVel were worth $616,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of CorVel by 193.1% during the third quarter. FMR LLC now owns 4,306 shares of the business services provider's stock worth $1,408,000 after purchasing an additional 2,837 shares during the period. State Street Corp lifted its holdings in shares of CorVel by 0.8% during the third quarter. State Street Corp now owns 360,068 shares of the business services provider's stock worth $117,703,000 after purchasing an additional 2,959 shares during the period. Quest Partners LLC lifted its holdings in shares of CorVel by 95.1% during the third quarter. Quest Partners LLC now owns 3,596 shares of the business services provider's stock worth $1,175,000 after purchasing an additional 1,753 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of CorVel by 1.6% during the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider's stock worth $1,422,000 after purchasing an additional 67 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of CorVel by 152.8% during the fourth quarter. Victory Capital Management Inc. now owns 109,084 shares of the business services provider's stock worth $12,137,000 after purchasing an additional 65,940 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Separately, StockNews.com downgraded CorVel from a "buy" rating to a "hold" rating in a report on Thursday, March 13th.

CorVel Stock Performance

CorVel stock traded down $0.42 during midday trading on Tuesday, reaching $105.79. The company's stock had a trading volume of 102,979 shares, compared to its average volume of 105,580. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The stock's 50 day simple moving average is $112.15 and its 200 day simple moving average is $114.21. The firm has a market capitalization of $5.43 billion, a PE ratio of 62.23 and a beta of 1.06.

CorVel (NASDAQ:CRVL - Get Free Report) last released its earnings results on Tuesday, February 4th. The business services provider reported $0.46 EPS for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Insider Buying and Selling at CorVel

In other news, Director Steven J. Hamerslag sold 10,000 shares of CorVel stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total transaction of $1,234,800.00. Following the completion of the transaction, the director now owns 314,000 shares of the company's stock, valued at $38,772,720. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey J. Michael sold 10,477 shares of CorVel stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $116.45, for a total value of $1,220,046.65. Following the transaction, the director now directly owns 568,310 shares of the company's stock, valued at $66,179,699.50. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,200 shares of company stock valued at $3,824,115. 47.57% of the stock is owned by company 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.