Claritev (NYSE:CTEV) Stock: Insider Travis Dalton Purchases 5,110 Shares

Claritev (NYSE:CTEV) CEO Travis Dalton acquired 5,110 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The stock was purchased at an average price of $29.34 per share, with a total value of $149,927.40. Following the completion of the acquisition, the chief executive officer directly owned 57,432 shares of the company’s stock, valued at $1,685,054.88. This represents a 9.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Travis Dalton also recently made the following trade(s):

• On Thursday, August 27th, Travis Dalton acquired 4,500 shares of Claritev stock. The shares were acquired at an average cost of $38.81 per share, for a total transaction of $174,645.00.
• On Friday, August 28th, Travis Dalton purchased 1,950 shares of Claritev stock. The stock was bought at an average cost of $38.48 per share, with a total value of $75,036.00.

Claritev Price Performance

Claritev stock traded down $0.01 during trading hours on Friday, reaching $26.89. The stock had a trading volume of 175,323 shares, compared to its average volume of 176,164. The company has a market cap of $455.79 million, a price-to-earnings ratio of -1.64 and a beta of 1.05. The business’s 50 day moving average price is $26.42 and its 200-day moving average price is $25.46. Claritev has a 52 week low of $11.50 and a 52 week high of $55.50.

Claritev (NYSE:CTEV) last issued its quarterly earnings data on Monday, November 9th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of ($3.68) by $5.45. The business had revenue of $268.31 million for the quarter. On average, sell-side analysts forecast that Claritev will post -15.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTEV. Public Investment Fund acquired a new position in shares of Claritev during the 2nd quarter worth approximately $43,703,438. RBF Capital LLC grew its position in shares of Claritev by 0.8% in the first quarter. RBF Capital LLC now owns 135,314 shares of the company’s stock valued at $2,211,000 after purchasing an additional 1,127 shares in the last quarter. Bank of America Corp DE grew its position in shares of Claritev by 146.6% in the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock valued at $1,598,000 after purchasing an additional 58,133 shares in the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Claritev by 49.5% in the first quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock valued at $759,000 after purchasing an additional 15,380 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Claritev by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock valued at $296,000 after purchasing an additional 447 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Zacks Research raised shares of Claritev from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Citigroup restated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Wall Street Zen raised shares of Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Barclays reaffirmed an “overweight” rating and issued a $40.00 price target (up from $28.00) on shares of Claritev in a report on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Claritev presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

Claritev Company Profile

Claritev, formerly known as MultiPlan, provides technology-enabled services intended to help manage healthcare costs and support payment accuracy. Its offerings include access to provider networks, claims and payment solutions, and data analytics for evaluating healthcare costs and utilization. The company serves health plans, self-insured employers, third-party administrators and other participants in the U.S. healthcare system. Its services are designed to help customers identify cost-management opportunities and support more efficient healthcare transactions.