Insider Buying: Claritev (NYSE:CTEV) SVP Acquires $24,858.75 in Stock

Claritev (NYSE:CTEV) SVP Nutter Carol bought 875 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $28.41 per share, for a total transaction of $24,858.75. Following the completion of the transaction, the senior vice president owned 46,941 shares in the company, valued at $1,333,593.81. This represents a 1.90% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Claritev Stock Performance

Shares of Claritev stock opened at $30.58 on Friday. The firm’s 50-day simple moving average is $22.94 and its 200-day simple moving average is $26.66. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07. The firm has a market cap of $521.39 million, a P/E ratio of -1.76 and a beta of 0.77.

Hedge Funds Weigh In On Claritev

Institutional investors have recently modified their holdings of the stock. H&F Corporate Investors VIII Ltd. bought a new position in shares of Claritev in the third quarter worth about $285,988,000. Oak Hill Advisors LP bought a new position in shares of Claritev in the third quarter worth about $4,871,000. Topline Capital Management LLC bought a new position in shares of Claritev in the third quarter worth about $10,711,000. Citigroup Inc. bought a new position in shares of Claritev in the third quarter worth about $2,025,000. Finally, Beach Point Capital Management LP raised its stake in shares of Claritev by 77.4% in the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock worth $32,276,000 after acquiring an additional 329,424 shares during the last quarter. 87.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTEV. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Friday, March 27th. Wall Street Zen downgraded shares of Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Barclays began coverage on shares of Claritev in a report on Friday, April 24th. They set an “overweight” rating and a $28.00 price target for the company. Canaccord Genuity Group began coverage on shares of Claritev in a report on Friday, May 29th. They set a “buy” rating and a $32.00 price target for the company. Finally, UBS Group reissued a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.67.

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.