Claritev (NYSE:CTEV) Trading Up 3.2% – Here’s What Happened

Claritev (NYSE:CTEV) shot up 3.2% during trading on Monday . The stock traded as high as $43.54 and last traded at $43.38. 80,198 shares were traded during mid-day trading, a decline of 43% from the average session volume of 141,292 shares. The stock had previously closed at $42.03.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CTEV. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday. Citigroup raised their target price on shares of Claritev from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Claritev Price Performance

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 capitalization of $710.29 million, a price-to-earnings ratio of -2.05 and a beta of 0.52. The business’s fifty day simple moving average is $49.88 and its 200 day simple moving average is $52.04.

Insider Buying and Selling at Claritev

In other Claritev news, SVP William B. Mintz bought 916 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $38.00 per share, for a total transaction of $34,808.00. Following the purchase, the senior vice president directly owned 65,325 shares of the company’s stock, valued at approximately $2,482,350. This represents a 1.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Kim purchased 9,600 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $38.25 per share, with a total value of $367,200.00. Following the completion of the transaction, the executive vice president directly owned 105,529 shares of the company’s stock, valued at $4,036,484.25. The trade was a 10.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 17,347 shares of company stock worth $710,938. Corporate insiders own 8.00% of the company’s stock.

Institutional Investors Weigh In On Claritev

A number of hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. purchased a new stake in Claritev in the third quarter valued at approximately $42,000. Legal & General Group Plc purchased a new stake in shares of Claritev during the third quarter worth about $45,000. BNP Paribas Financial Markets bought a new stake in shares of Claritev in the 3rd quarter worth approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Claritev in the 3rd quarter worth $187,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Claritev in the third quarter worth about $322,000. Institutional investors own 87.15% of the company’s stock.

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.