Claritev (NYSE:CTEV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Claritev (NYSE:CTEV) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $27.25.

Several research analysts have weighed in on the company. Guggenheim reiterated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a report on Friday, March 27th. Barclays assumed coverage on Claritev in a report on Friday, April 24th. They set an “overweight” rating and a $28.00 target price on the stock. UBS Group reiterated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Finally, Wall Street Zen lowered Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th.

Claritev Trading Down 9.0%

CTEV stock opened at $21.42 on Tuesday. The business’s 50-day moving average price is $19.77 and its two-hundred day moving average price is $29.51. The firm has a market cap of $365.17 million, a PE ratio of -1.24 and a beta of 0.76. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07.

Insider Activity

In other Claritev news, CEO Travis Dalton bought 15,380 shares of Claritev stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $199,940.00. Following the completion of the acquisition, the chief executive officer owned 24,952 shares in the company, valued at approximately $324,376. The trade was a 160.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Kim purchased 30,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was purchased at an average price of $14.30 per share, for a total transaction of $429,000.00. Following the completion of the acquisition, the executive vice president owned 137,973 shares of the company’s stock, valued at approximately $1,973,013.90. This represents a 27.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 61,680 shares of company stock worth $899,437. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Claritev

A number of institutional investors have recently modified their holdings of CTEV. State of Wyoming bought a new stake in shares of Claritev in the fourth quarter valued at about $25,000. Public Employees Retirement System of Ohio bought a new stake in shares of Claritev in the first quarter valued at about $38,000. Ameritas Investment Partners Inc. bought a new stake in shares of Claritev in the third quarter valued at about $42,000. Legal & General Group Plc bought a new stake in shares of Claritev in the third quarter valued at about $45,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Claritev in the fourth quarter valued at about $45,000. 87.15% of the stock is currently owned by institutional investors.

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.