Claritev (NYSE:CTEV) Stock Price Down 11% – Should You Sell?

Claritev (NYSE:CTEV) was down 11% on Monday . The company traded as low as $48.09 and last traded at $48.14. Approximately 66,065 shares changed hands during trading, a decline of 52% from the average daily volume of 136,332 shares. The stock had previously closed at $54.07.

Wall Street Analysts Forecast Growth

CTEV has been the topic of a number of recent research reports. Citigroup raised their price objective on Claritev from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.00.

Claritev Trading Down 11.6%

The stock’s fifty day simple moving average is $55.52 and its 200-day simple moving average is $51.15. 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 $658.06 million, a PE ratio of -1.90 and a beta of 0.52.

Insider Transactions at Claritev

In other Claritev news, CEO Travis Dalton acquired 5,290 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were purchased at an average price of $47.23 per share, for a total transaction of $249,846.70. Following the completion of the purchase, the chief executive officer directly owned 9,572 shares of the company’s stock, valued at $452,085.56. The trade was a 123.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William B. Mintz bought 916 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $38.00 per share, with a total value of $34,808.00. Following the completion of the transaction, the senior vice president directly owned 65,325 shares of the company’s stock, valued at $2,482,350. This trade represents a 1.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 17,347 shares of company stock valued at $710,938 over the last three months. Company insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Claritev

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTEV. H&F Corporate Investors VIII Ltd. acquired a new position in Claritev in the third quarter valued at approximately $285,988,000. AustralianSuper Pty Ltd acquired a new stake in shares of Claritev in the third quarter valued at about $169,605,000. Public Investment Fund purchased a new stake in shares of Claritev in the third quarter valued at approximately $68,009,000. Ares Management LLC increased its stake 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. Finally, Vanguard Group Inc. purchased a new stake in shares of Claritev during the 3rd quarter valued at approximately $27,483,000. 87.15% of the stock is owned by institutional investors and hedge funds.

Claritev Company Profile

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.