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

M&T Bank Corp reduced its holdings in shares of CorVel Corp. (NASDAQ:CRVL) by 7.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,107 shares of the business services provider’s stock after selling 431 shares during the quarter. M&T Bank Corp’s holdings in CorVel were worth $571,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC boosted its stake in CorVel by 200.0% in the fourth quarter. LGT Financial Advisors LLC now owns 255 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 170 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of CorVel by 6,350.0% in the 4th quarter. Bessemer Group Inc. now owns 258 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of CorVel in the 1st quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new position in CorVel during the 4th quarter worth approximately $37,000. Finally, US Bancorp DE increased its position in CorVel by 225.4% during the fourth quarter. US Bancorp DE now owns 384 shares of the business services provider’s stock worth $43,000 after buying an additional 266 shares during the period. 51.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CorVel news, Director R Judd Jessup sold 687 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $111.25, for a total transaction of $76,428.75. Following the sale, the director owned 128,832 shares in the company, valued at approximately $14,332,560. This represents a 0.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jennifer Yoss sold 1,050 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $111.39, for a total value of $116,959.50. Following the sale, the vice president owned 2,088 shares in the company, valued at approximately $232,582.32. This trade represents a 33.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,079 shares of company stock worth $1,446,023 over the last quarter. 44.56% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen raised CorVel from a “hold” rating to a “buy” rating in a research report on Friday, April 18th.

CorVel Stock Down 2.1%

CRVL opened at $95.89 on Wednesday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 52.21 and a beta of 0.98. CorVel Corp. has a 52 week low of $90.16 and a 52 week high of $128.61. The business’s 50 day moving average is $106.86 and its two-hundred day moving average is $110.11.

CorVel (NASDAQ:CRVL) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.51 EPS for the quarter. The company had revenue of $231.51 million for the quarter. CorVel had a return on equity of 32.55% and a net margin of 10.63%.

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.