Claritev (NYSE:CTEV) Stock Price Up 13.1% – Here’s What Happened

Claritev (NYSE:CTEV) shares rose 13.1% during trading on Monday . The company traded as high as $30.89 and last traded at $30.55. Approximately 57,610 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 173,296 shares. The stock had previously closed at $27.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research note on Friday, March 27th. Wall Street Zen cut shares of Claritev from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Wells Fargo & Company cut their target price on shares of Claritev from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, March 19th. Citigroup cut their target price 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. Finally, Barclays assumed coverage on shares of Claritev in a research note on Friday, April 24th. They set an “overweight” rating and a $28.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $27.25.

Claritev Trading Up 10.3%

The business’s 50 day moving average price is $18.29 and its 200-day moving average price is $32.60. The company has a market cap of $492.86 million, a price-to-earnings ratio of -1.72 and a beta of 0.76.

Insider Activity

In other Claritev news, CEO Travis Dalton acquired 15,380 shares of the company’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $199,940.00. Following the purchase, the chief executive officer directly owned 24,952 shares of the company’s stock, valued at $324,376. This trade represents a 160.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Kim purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average price of $16.50 per share, with a total value of $247,500.00. Following the completion of the purchase, the executive vice president owned 182,878 shares of the company’s stock, valued at $3,017,487. This trade represents a 8.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 61,680 shares of company stock valued at $899,437 in the last quarter. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Claritev

Institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new stake in shares of Claritev in the fourth quarter valued at approximately $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of Claritev in the third quarter valued at approximately $42,000. Legal & General Group Plc bought a new stake in shares of Claritev in the third quarter valued at approximately $45,000. Los Angeles Capital Management LLC bought a new stake in shares of Claritev in the fourth quarter valued at approximately $45,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of Claritev in the third quarter valued at approximately $79,000. 87.15% of the stock is currently owned by institutional investors.

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.