Oak Hill Advisors LP Buys New Position in Claritev $CTEV

Oak Hill Advisors LP bought a new position in shares of Claritev (NYSE:CTEV) in the 3rd quarter, Holdings Channel reports. The fund bought 91,773 shares of the company’s stock, valued at approximately $4,871,000. Claritev accounts for 1.0% of Oak Hill Advisors LP’s portfolio, making the stock its 10th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Claritev in the third quarter valued at approximately $42,000. Legal & General Group Plc bought a new position in shares of Claritev during the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets acquired a new stake in shares of Claritev during the 3rd quarter worth approximately $79,000. Russell Investments Group Ltd. bought a new stake in shares of Claritev in the 3rd quarter valued at $369,000. Finally, Quantbot Technologies LP bought a new stake in shares of Claritev in the 3rd quarter valued at $385,000. 87.15% of the stock is currently owned by institutional investors.

Claritev Trading Up 5.3%

NYSE CTEV opened at $16.87 on Friday. The company has a fifty day simple moving average of $23.93 and a 200 day simple moving average of $43.33. Claritev has a 12-month low of $12.04 and a 12-month high of $74.07. The company has a market cap of $278.52 million, a P/E ratio of -0.98 and a beta of 0.60.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Claritev

In other Claritev news, EVP Michael Kim bought 30,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $14.30 per share, with a total value of $429,000.00. Following the completion of the transaction, the executive vice president directly owned 137,973 shares in the company, valued at approximately $1,973,013.90. The trade was a 27.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Travis Dalton bought 15,380 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $13.00 per share, with a total value of $199,940.00. Following the completion of the transaction, the chief executive officer owned 24,952 shares of the company’s stock, valued at $324,376. This represents a 160.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 8.00% of the company’s stock.

Claritev Company Profile

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.