Claritev (NYSE:CTEV) Shares Down 0.8% – Time to Sell?

Claritev (NYSE:CTEV) shares fell 0.8% on Thursday . The stock traded as low as $22.90 and last traded at $23.38. 92,225 shares changed hands during trading, a decline of 33% from the average session volume of 137,849 shares. The stock had previously closed at $23.56.

Wall Street Analyst Weigh In

Several research firms recently commented on CTEV. Citigroup dropped their target price on Claritev from $80.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, January 9th. Guggenheim assumed coverage on shares of Claritev in a research note on Monday, January 12th. They set a “buy” rating and a $43.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research note on Monday, December 29th. Finally, Wells Fargo & Company set a $33.00 price objective on shares of Claritev and gave the company an “equal weight” rating in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Claritev presently has an average rating of “Hold” and an average price target of $46.33.

Claritev Stock Down 0.9%

The firm has a market cap of $381.38 million, a price-to-earnings ratio of -1.10 and a beta of 0.50. The company’s 50-day moving average price is $31.29 and its 200-day moving average price is $48.05.

Hedge Funds Weigh In On Claritev

Hedge funds have recently made changes to their positions in the company. AustralianSuper Pty Ltd acquired a new position in Claritev in the 3rd quarter valued at $169,605,000. Jump Financial LLC acquired a new stake in Claritev during the 4th quarter worth $397,000. Russell Investments Group Ltd. purchased a new stake in shares of Claritev during the third quarter worth $369,000. BNP Paribas Financial Markets acquired a new stake in shares of Claritev in the third quarter valued at about $79,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Claritev in the fourth quarter valued at approximately $45,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Claritev Company Profile

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.