Public Investment Fund Makes New $43.70 Billion Investment in Claritev $CTEV

Public Investment Fund bought a new stake in Claritev (NYSE:CTEV) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,281,250 shares of the company’s stock, valued at approximately $43,703,438,000. Claritev makes up 0.1% of Public Investment Fund’s investment portfolio, making the stock its 5th biggest position. Public Investment Fund owned approximately 0.08% of Claritev as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in Claritev in the third quarter worth about $1,245,000. Vanguard Group Inc. bought a new stake in shares of Claritev in the 3rd quarter valued at approximately $27,483,000. Ameritas Investment Partners Inc. bought a new stake in shares of Claritev in the 3rd quarter valued at approximately $42,000. Russell Investments Group Ltd. acquired a new stake in shares of Claritev during the 3rd quarter valued at approximately $369,000. Finally, Legal & General Group Plc bought a new position in Claritev during the third quarter worth $45,000. Institutional investors own 87.15% of the company’s stock.

Insider Buying and Selling at Claritev

In other news, SVP Tiffani Misencik sold 8,850 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $40.07, for a total value of $354,619.50. Following the completion of the transaction, the senior vice president owned 123,723 shares of the company’s stock, valued at approximately $4,957,580.61. This represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP William B. Mintz sold 8,431 shares of Claritev stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $34.24, for a total transaction of $288,677.44. Following the sale, the senior vice president owned 71,195 shares in the company, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.40% of the company’s stock.

Claritev Trading Down 0.1%

Shares of NYSE:CTEV opened at $37.60 on Thursday. The firm’s 50 day moving average is $30.84 and its two-hundred day moving average is $24.55. Claritev has a 52 week low of $11.50 and a 52 week high of $74.07. The firm has a market capitalization of $637.32 million, a P/E ratio of -2.21 and a beta of 0.74.

Claritev (NYSE:CTEV) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.10) by $5.51. The business had revenue of $257.48 million for the quarter. Analysts predict that Claritev will post -15.13 EPS for the current year.

Analyst Upgrades and Downgrades

CTEV has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Piper Sandler reissued an “overweight” rating and set a $73.00 target price on shares of Claritev in a report on Wednesday, August 12th. Zacks Research upgraded shares of Claritev from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Citigroup reaffirmed a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.83.

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.