Stock of The Day: Could CorVel Corporation Crash Even More? The Stock Just Made 52-Week Low

Stock of The Day: Could CorVel Corporation Crash Even More? The Stock Just Made 52 Week Low

The stock of CorVel Corporation (NASDAQ:CRVL) hit a new 52-week low and has $30.40 target or 5.00% below today’s $32.00 share price. The 9 months bearish chart indicates high risk for the $582.70 million company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $30.40 price target is reached, the company will be worth $29.14 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 41,738 shares traded hands. CorVel Corporation (NASDAQ:CRVL) has declined 18.57% since March 31, 2016 and is downtrending. It has underperformed by 21.09% the S&P500.

According to Zacks Investment Research, “CorVel Corporation is an independent nationwide provider of managed care services designed to address the medical issues of healthcare benefits provided under workers’ compensation, group health and auto insurance policies. The Company’s services include, but are not limited to, automated medical fee auditing, national preferred provider network, early intervention, utilization review, medical case management, vocational rehabilitation services, telephonic case management and independent medical examinations.”

Insitutional Activity: The institutional sentiment increased to 2.26 in 2016 Q2. Its up 0.73, from 1.53 in 2016Q1. The ratio is positive, as 4 funds sold all CorVel Corporation shares owned while 30 reduced positions. 21 funds bought stakes while 56 increased positions. They now own 8.96 million shares or 1.56% more from 8.82 million shares in 2016Q1.
Gsa Capital Prtnrs Limited Liability Partnership has 39,945 shares for 0.1% of their US portfolio. Segall Bryant Hamill holds 49,668 shares or 0.06% of its portfolio. Voya Investment Mngmt Ltd has invested 0% of its portfolio in CorVel Corporation (NASDAQ:CRVL). Employees Retirement Association Of Colorado reported 4,079 shares or 0% of all its holdings. Moreover, Vanguard Incorporated has 0% invested in CorVel Corporation (NASDAQ:CRVL) for 823,456 shares. Thrivent Financial For Lutherans has 4,920 shares for 0% of their US portfolio. The Maryland-based Price T Rowe Inc Md has invested 0% in CorVel Corporation (NASDAQ:CRVL). First L P last reported 32,817 shares in the company. Susquehanna Gru Limited Liability Partnership last reported 0% of its portfolio in the stock. Geode Capital Limited Liability Co holds 118,186 shares or 0% of its portfolio. California Public Employees Retirement System, a California-based fund reported 49,400 shares. Zebra Mgmt Ltd Liability holds 0.25% of its portfolio in CorVel Corporation (NASDAQ:CRVL) for 16,697 shares. Cubist Systematic Strategies Limited Liability has 0.01% invested in the company for 5,568 shares. The Massachusetts-based Wellington Management Grp Limited Liability Partnership has invested 0.01% in CorVel Corporation (NASDAQ:CRVL). Schroder Group Inc has 4,901 shares for 0% of their US portfolio.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 8 insider sales for $10.27 million net activity. CORSTAR HOLDINGS INC sold 79,062 shares worth $3.65M. $32,813 worth of CorVel Corporation (NASDAQ:CRVL) was sold by BLAHA DIANE on Thursday, September 15. Macino Jean sold $375,075 worth of CorVel Corporation (NASDAQ:CRVL) on Monday, June 6. MICHAEL JEFFREY J sold $194,130 worth of CorVel Corporation (NASDAQ:CRVL) on Wednesday, June 8. CLEMONS V GORDON sold $84,914 worth of stock. On Monday, June 6 the insider Combs Michael G sold $368,790.

Another recent and important CorVel Corporation (NASDAQ:CRVL) news was published by Star-Telegram.com which published an article titled: “Company apologizes for letters to Fort Worth officers who were killed” on October 27, 2015.

CRVL Company Profile

CorVel Corporation (Corvel), incorporated on May 16, 1991, is a well-known provider of workers’ compensation solutions for employers, third party administrators, insurance companies and government agencies. The Firm offers its services as a bundled solution, which includes claims management, as a standalone service, or as add-on services to existing customers. CareMC is an application platform for all of the Company’s primary service lines and delivers immediate access to customers. CareMC offers clients direct access to the Company’s primary services. CareMC allows for electronic communication and reporting between providers, payers, employers and patients. The Firm offers services in two general categories, network solutions and patient management.

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