Claritev (NYSE:CTEV) SVP Sells $354,619.50 in Stock

Claritev (NYSE:CTEV) SVP Tiffani Misencik sold 8,850 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.07, for a total value of $354,619.50. Following the sale, the senior vice president owned 123,723 shares of the company’s stock, valued at $4,957,580.61. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Claritev Price Performance

CTEV opened at $33.97 on Friday. The stock’s 50 day simple moving average is $30.30 and its 200 day simple moving average is $24.25. The firm has a market cap of $575.79 million, a price-to-earnings ratio of -2.00 and a beta of 0.74. Claritev has a 1 year low of $11.50 and a 1 year high of $74.07.

Claritev (NYSE:CTEV) last announced its quarterly earnings data on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of ($4.10) by $5.51. The company had revenue of $257.48 million during the quarter. As a group, sell-side analysts anticipate that Claritev will post -15.13 EPS for the current year.

Institutional Trading of Claritev

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Arini Captial Management Ltd purchased a new stake in Claritev in the fourth quarter worth about $64,291,000. Beach Point Capital Management LP grew its stake in shares of Claritev by 77.4% in the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock worth $32,276,000 after buying an additional 329,424 shares during the last quarter. AXQ Capital LP bought a new position in Claritev during the 4th quarter valued at approximately $223,000. Hussman Strategic Advisors Inc. purchased a new position in Claritev during the fourth quarter valued at $449,000. Finally, Bank of America Corp DE raised its stake in Claritev by 146.6% during the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock valued at $1,598,000 after buying an additional 58,133 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CTEV shares. Zacks Research upgraded shares of Claritev from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Claritev from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Canaccord Genuity Group upped their price objective on shares of Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Barclays reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Claritev in a research note on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Claritev in a research note on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Claritev has an average rating of “Moderate Buy” and a consensus target price of $44.83.

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.