Oak Hill Advisors LP Invests $4.87 Million in Claritev $CTEV

Oak Hill Advisors LP purchased a new stake in Claritev (NYSE:CTEV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 91,773 shares of the company’s stock, valued at approximately $4,871,000. Claritev comprises approximately 1.0% of Oak Hill Advisors LP’s portfolio, making the stock its 10th largest holding. Oak Hill Advisors LP owned 0.56% of Claritev as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CTEV. Ameritas Investment Partners Inc. acquired a new position in Claritev in the 3rd quarter worth about $42,000. Legal & General Group Plc acquired a new stake in shares of Claritev during the third quarter valued at about $45,000. BNP Paribas Financial Markets acquired a new stake in shares of Claritev during the third quarter valued at about $79,000. Russell Investments Group Ltd. bought a new stake in shares of Claritev during the third quarter worth about $369,000. Finally, Quantbot Technologies LP bought a new stake in shares of Claritev during the third quarter worth about $385,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Travis Dalton bought 15,380 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average price of $13.00 per share, with a total value of $199,940.00. Following the completion of the purchase, the chief executive officer directly owned 24,952 shares of the company’s stock, valued at approximately $324,376. This represents a 160.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Kim bought 30,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the executive vice president owned 137,973 shares of the company’s stock, valued at $1,973,013.90. This trade represents a 27.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.00% of the stock is currently owned by insiders.

Claritev Price Performance

Shares of CTEV stock opened at $16.87 on Friday. The business’s 50 day simple moving average is $23.93 and its 200 day simple moving average is $43.33. Claritev has a one year low of $12.04 and a one year high of $74.07. The stock has a market capitalization of $278.52 million, a PE ratio of -0.98 and a beta of 0.60.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Claritev from $63.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Guggenheim restated a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. UBS Group reaffirmed a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Finally, Wells Fargo & Company set a $30.00 price objective on shares of Claritev and gave the stock an “equal weight” rating in a research note on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.67.

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.