Claritev (NYSE:CTEV) Shares Down 6.2% – What’s Next?

Claritev (NYSE:CTEV) traded down 6.2% during trading on Wednesday . The stock traded as low as $30.40 and last traded at $30.40. 36,744 shares were traded during trading, a decline of 83% from the average session volume of 222,031 shares. The stock had previously closed at $32.42.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTEV. Citigroup cut their price objective on shares of Claritev from $80.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Guggenheim began coverage on Claritev in a research report on Monday. They set a “buy” rating and a $43.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Finally, Wells Fargo & Company set a $33.00 target price on Claritev and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.33.

Claritev Stock Down 8.0%

The firm has a market capitalization of $493.26 million, a PE ratio of -1.43 and a beta of 0.51. The stock has a 50-day moving average price of $43.14 and a 200 day moving average price of $51.57.

Insider Activity at Claritev

In related news, SVP William B. Mintz bought 916 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $38.00 per share, with a total value of $34,808.00. Following the completion of the purchase, the senior vice president directly owned 65,325 shares of the company’s stock, valued at approximately $2,482,350. This trade represents a 1.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Kim bought 9,600 shares of Claritev 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 directly owned 105,529 shares of the company’s stock, valued at approximately $4,036,484.25. The trade was a 10.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 17,347 shares of company stock worth $710,938 in the last quarter. 8.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Claritev

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