Arini Captial Management Ltd Invests $64.29 Million in Claritev $CTEV

Arini Captial Management Ltd acquired a new position in Claritev (NYSE:CTEV) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,503,892 shares of the company’s stock, valued at approximately $64,291,000. Claritev accounts for 42.8% of Arini Captial Management Ltd’s investment portfolio, making the stock its biggest holding. Arini Captial Management Ltd owned 9.11% of Claritev at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. State of Wyoming purchased a new position in shares of Claritev in the 4th quarter worth about $25,000. Ameritas Investment Partners Inc. purchased a new position in shares of Claritev in the 3rd quarter worth about $42,000. Legal & General Group Plc purchased a new position in shares of Claritev in the 3rd quarter worth about $45,000. Los Angeles Capital Management LLC purchased a new position in shares of Claritev in the 4th quarter worth about $45,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Claritev in the 3rd quarter worth about $79,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group assumed coverage on Claritev in a report on Friday, May 29th. They issued a “buy” rating and a $32.00 price target for the company. Wall Street Zen downgraded Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Citigroup reiterated a “buy” rating on shares of Claritev in a report on Wednesday, May 13th. Piper Sandler set a $61.00 price target on Claritev in a report on Wednesday, June 3rd. Finally, UBS Group reiterated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.67.

Claritev Stock Down 3.1%

Shares of CTEV opened at $29.71 on Thursday. The business’s 50 day moving average is $23.71 and its two-hundred day moving average is $26.01. Claritev has a 52-week low of $11.50 and a 52-week high of $74.07. The firm has a market cap of $506.56 million, a price-to-earnings ratio of -1.71 and a beta of 0.77.

Claritev 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.