Insider Buying: Claritev (NYSE:CTEV) EVP Buys $247,500.00 in Stock

Claritev (NYSE:CTEV) EVP Michael Kim purchased 15,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $16.50 per share, for a total transaction of $247,500.00. Following the purchase, the executive vice president directly owned 182,878 shares in the company, valued at $3,017,487. This trade represents a 8.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Kim also recently made the following trade(s):

• On Friday, February 27th, Michael Kim purchased 30,000 shares of Claritev stock. The shares were bought at an average price of $14.30 per share, with a total value of $429,000.00.

Claritev Trading Down 3.6%

Shares of Claritev stock opened at $16.31 on Thursday. Claritev has a twelve month low of $12.04 and a twelve month high of $74.07. The firm’s 50-day moving average price is $23.07 and its 200 day moving average price is $41.98. The firm has a market capitalization of $269.28 million, a PE ratio of -0.94 and a beta of 0.60.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. UBS Group reissued a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. Citigroup dropped their price objective on shares of Claritev from $63.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. 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 reaffirmed a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Claritev currently has an average rating of “Hold” and a consensus price target of $29.67.

Institutional Trading of Claritev

Several hedge funds have recently made changes to their positions in the business. AustralianSuper Pty Ltd purchased a new position in Claritev in the 3rd quarter valued at approximately $169,605,000. Oak Hill Advisors LP purchased a new stake in shares of Claritev during the third quarter worth $4,871,000. H&F Corporate Investors VIII Ltd. acquired a new stake in shares of Claritev in the third quarter valued at $285,988,000. Topline Capital Management LLC acquired a new stake in shares of Claritev in the third quarter valued at $10,711,000. Finally, Citigroup Inc. purchased a new position in Claritev in the third quarter valued at $2,025,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

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.