Claritev (NYSE:CTEV) Stock Price Up 8% – What’s Next?

Claritev (NYSE:CTEV) shot up 8% during mid-day trading on Thursday . The stock traded as high as $41.78 and last traded at $41.51. 132,747 shares were traded during mid-day trading, a decline of 5% from the average session volume of 140,200 shares. The stock had previously closed at $38.43.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTEV. Citigroup boosted their target price on shares of Claritev from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research note on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Claritev has an average rating of “Hold” and a consensus price target of $80.00.

Claritev Stock Up 7.0%

The stock has a market capitalization of $679.88 million, a price-to-earnings ratio of -1.97 and a beta of 0.52. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 310.26. The business’s 50-day moving average is $52.34 and its two-hundred day moving average is $51.69.

Insider Buying and Selling

In related news, SVP William B. Mintz purchased 916 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $38.00 per share, with a total value of $34,808.00. Following the completion of the acquisition, the senior vice president owned 65,325 shares in the company, valued at $2,482,350. This trade represents a 1.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Kim acquired 9,600 shares of Claritev stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average price of $38.25 per share, for a total transaction of $367,200.00. Following the transaction, the executive vice president owned 105,529 shares of the company’s stock, valued at $4,036,484.25. This represents a 10.01% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 17,347 shares of company stock valued at $710,938 over the last ninety days. 8.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Claritev

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

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.