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

Norges Bank bought a new position in CorVel Co. (NASDAQ:CRVL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 372,042 shares of the business services provider's stock, valued at approximately $41,393,000. Norges Bank owned approximately 0.73% of CorVel as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRVL. Cerity Partners LLC bought a new stake in shares of CorVel in the third quarter worth approximately $773,000. FMR LLC grew its position in CorVel by 193.1% in the 3rd 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. BNP Paribas Financial Markets raised its stake in CorVel by 13.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,094 shares of the business services provider's stock valued at $1,992,000 after buying an additional 734 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of CorVel during the 3rd quarter valued at $217,000. Finally, Verition Fund Management LLC bought a new stake in shares of CorVel in the third quarter worth $213,000. Institutional investors own 51.36% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CorVel from a "hold" rating to a "buy" rating in a research report on Tuesday.

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Insider Activity at CorVel

In other news, CFO Brandon O'brien sold 1,523 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 17,142 shares of the company's stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Hamerslag sold 10,000 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the sale, the director now owns 314,000 shares of the company's stock, valued at approximately $38,772,720. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,200 shares of company stock valued at $3,824,115. Corporate insiders own 47.57% of the company's stock.

CorVel Price Performance

Shares of NASDAQ:CRVL traded up $7.90 during mid-day trading on Wednesday, reaching $115.56. 187,354 shares of the company traded hands, compared to its average volume of 112,917. The company's 50 day moving average price is $111.80 and its 200-day moving average price is $114.92. The firm has a market cap of $5.94 billion, a PE ratio of 67.98 and a beta of 0.94. CorVel Co. has a 52 week low of $76.20 and a 52 week high of $128.61.

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

CorVel Profile

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.