Michael Kim Purchases 30,000 Shares of Claritev (NYSE:CTEV) Stock

Claritev (NYSE:CTEV) EVP Michael Kim purchased 30,000 shares of Claritev stock in a transaction on Friday, February 27th. The shares were acquired at an average price of $14.30 per share, with a total value of $429,000.00. Following the transaction, the executive vice president directly owned 137,973 shares in the company, valued at $1,973,013.90. This trade represents a 27.78% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Claritev Trading Up 7.1%

CTEV stock traded up $0.95 during trading on Monday, hitting $14.42. The company had a trading volume of 362,312 shares, compared to its average volume of 230,734. The business has a 50 day moving average of $28.94 and a 200 day moving average of $46.69. The firm has a market capitalization of $238.07 million, a price-to-earnings ratio of -0.83 and a beta of 0.61. Claritev has a fifty-two week low of $12.04 and a fifty-two week high of $74.07.

Institutional Investors Weigh In On Claritev

Several hedge funds have recently bought and sold shares of the business. H&F Corporate Investors VIII Ltd. purchased a new position in Claritev during the 3rd quarter valued at about $285,988,000. AustralianSuper Pty Ltd acquired a new stake in shares of Claritev during the third quarter worth approximately $169,605,000. Arini Captial Management Ltd purchased a new position in Claritev during the fourth quarter valued at approximately $64,291,000. Public Investment Fund acquired a new position in Claritev in the 3rd quarter valued at approximately $68,009,000. Finally, Beach Point Capital Management LP increased its stake in Claritev by 77.4% in the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock valued at $32,276,000 after buying an additional 329,424 shares during the period. 87.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTEV has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note on Monday, December 29th. Wells Fargo & Company set a $30.00 price target on shares of Claritev and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Citigroup lowered their price objective on shares of Claritev from $63.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. UBS Group restated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.67.

About Claritev

Claritev is a healthcare technology, data and insights company focused on improving affordability,  transparency and quality. Led by deeply experienced associates, data scientists, and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources from over 40 years of claims repricing. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design.