Claritev (NYSE:CTEV) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Claritev (NYSE:CTEV) saw strong trading volume on Friday . 306,188 shares traded hands during mid-day trading, an increase of 117% from the previous session’s volume of 140,879 shares.The stock last traded at $41.60 and had previously closed at $42.69.

Analyst Upgrades and Downgrades

Several research analysts have commented on CTEV shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note on Monday. Citigroup increased their price target on Claritev from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Claritev presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Claritev Price Performance

The stock has a market capitalization of $691.45 million, a price-to-earnings ratio of -2.00 and a beta of 0.52. The stock has a 50-day moving average price of $50.72 and a 200 day moving average price of $51.77. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 310.26.

Insider Activity

In other Claritev news, EVP Michael Kim bought 9,600 shares of Claritev stock in a transaction on Monday, November 17th. The shares were bought at an average price of $38.25 per share, for a total transaction of $367,200.00. Following the completion of the transaction, the executive vice president directly owned 105,529 shares of the company’s stock, valued at $4,036,484.25. This trade represents a 10.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $48.67, for a total value of $73,005,000.00. Following the transaction, the insider owned 8,932 shares of the company’s stock, valued at approximately $434,720.44. This represents a 99.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired 17,347 shares of company stock worth $710,938 over the last quarter. 8.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new position in Claritev during the third quarter worth $42,000. Legal & General Group Plc acquired a new position in Claritev in the 3rd quarter worth $45,000. BNP Paribas Financial Markets acquired a new stake in shares of Claritev in the 3rd quarter valued at about $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Claritev during the 3rd quarter valued at about $187,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Claritev during the 3rd quarter valued at about $322,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.