Claritev (NYSE:CTEV) Stock Price Up 3.2% – What’s Next?

Claritev (NYSE:CTEV) traded up 3.2% on Monday . The company traded as high as $43.54 and last traded at $43.38. 80,198 shares traded hands during trading, a decline of 43% from the average session volume of 141,292 shares. The stock had previously closed at $42.03.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup boosted their price target on Claritev from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.00.

Claritev Stock Up 2.6%

The stock has a 50-day moving average of $50.43 and a 200-day moving average of $51.97. The company has a debt-to-equity ratio of 310.26, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $712.61 million, a price-to-earnings ratio of -2.06 and a beta of 0.52.

Insider Buying and Selling

In related news, EVP Michael Kim bought 9,600 shares of the business’s stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $38.25 per share, with a total value of $367,200.00. Following the acquisition, the executive vice president owned 105,529 shares of the company’s stock, valued at $4,036,484.25. This represents a 10.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $48.67, for a total value of $73,005,000.00. Following the completion of the sale, the insider owned 8,932 shares in the company, valued at $434,720.44. This trade represents a 99.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 17,347 shares of company stock valued at $710,938 in the last quarter. 8.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ares Management LLC raised its holdings in shares of Claritev by 108.5% in the 1st quarter. Ares Management LLC now owns 1,863,105 shares of the company’s stock worth $43,131,000 after acquiring an additional 969,367 shares during the last quarter. Public Investment Fund purchased a new position in shares of Claritev in the 3rd quarter worth approximately $68,009,000. Nomura Holdings Inc. bought a new position in Claritev in the 3rd quarter valued at $7,817,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Claritev during the 3rd quarter valued at $187,000. Finally, Bank of America Corp DE bought a new stake in Claritev in the third quarter worth about $3,556,000. Institutional investors and hedge funds own 87.15% 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.