Exclusive: Can CorVel Corporation’s Tomorrow be Different? The Stock Just Broke Its 52-Week Low

Exclusive: Can CorVel Corporation's Tomorrow be Different? The Stock Just Broke Its 52 Week Low

The stock of CorVel Corporation (NASDAQ:CRVL) hit a new 52-week low and has $28.98 target or 9.00% below today’s $31.85 share price. The 8 months bearish chart indicates high risk for the $619.87M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $28.98 price target is reached, the company will be worth $55.79M 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 29,992 shares traded hands. CorVel Corporation (NASDAQ:CRVL) has declined 22.60% since April 7, 2016 and is downtrending. It has underperformed by 27.38% 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 Q2 2016. Its up 0.73, from 1.53 in 2016Q1. The ratio increased, 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.
Paloma Partners Com has invested 0% of its portfolio in CorVel Corporation (NASDAQ:CRVL). The Pennsylvania-based Vanguard Grp has invested 0% in CorVel Corporation (NASDAQ:CRVL). California Pub Employees Retirement Systems reported 49,400 shares or 0% of all its holdings. Numeric Invsts Limited Liability last reported 0.01% of its portfolio in the stock. Ameriprise Financial holds 49,903 shares or 0% of its portfolio. Millennium Mngmt Ltd Company reported 102,586 shares or 0.01% of all its holdings. Wellington Mngmt Gp Limited Liability Partnership has 774,157 shares for 0.01% of their US portfolio. Wells Fargo And Co Mn holds 0% or 35,448 shares in its portfolio. Blackrock Institutional Trust Na reported 315,925 shares or 0% of all its holdings. Moreover, Ubs Asset Americas Incorporated has 0% invested in CorVel Corporation (NASDAQ:CRVL) for 5,400 shares. Moreover, Secor Advsr L P has 0.17% invested in CorVel Corporation (NASDAQ:CRVL) for 31,311 shares. Blackrock Advsr Ltd reported 5,273 shares or 0% of all its holdings. Ahl Prtn Ltd Liability Partnership holds 0.01% or 5,515 shares in its portfolio. Lazard Asset Mgmt Lc accumulated 0% or 27,378 shares. Victory Cap has invested 0% of its portfolio in CorVel Corporation (NASDAQ:CRVL).

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 8 sales for $10.27 million net activity. MICHAEL JEFFREY J had sold 4,000 shares worth $194,130 on Wednesday, June 8. On Monday, August 15 CLEMONS V GORDON sold $84,914 worth of the stock or 2,000 shares. Shares for $3.65M were sold by CORSTAR HOLDINGS INC. Combs Michael G had sold 7,400 shares worth $368,790 on Monday, June 6. 875 shares were sold by BLAHA DIANE, worth $32,813 on Thursday, September 15. $375,075 worth of shares were sold by Macino Jean on Monday, June 6.

More news for CorVel Corporation (NASDAQ:CRVL) were recently published by: Star-Telegram.com, which released: “Company apologizes for letters to Fort Worth officers who were killed” on October 27, 2015. Streetinsider.com‘s article titled: “Form 4 CORVEL CORP For: Nov 03 Filed by: BLAHA DIANE” and published on November 07, 2016 is yet another important article.

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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