Insider Buying: Claritev (NYSE:CTEV) CEO Buys $75,036.00 in Stock

Claritev (NYSE:CTEV) CEO Travis Dalton purchased 1,950 shares of the company’s stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $38.48 per share, with a total value of $75,036.00. Following the purchase, the chief executive officer owned 52,322 shares of the company’s stock, valued at approximately $2,013,350.56. The trade was a 3.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Claritev Stock Performance

CTEV stock opened at $38.70 on Monday. The company has a market capitalization of $655.97 million, a PE ratio of -2.28 and a beta of 0.74. Claritev has a one year low of $11.50 and a one year high of $74.07. The company’s 50 day moving average price is $31.21 and its two-hundred day moving average price is $24.74.

Claritev (NYSE:CTEV) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. On average, research analysts predict that Claritev will post -15.13 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CTEV. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on shares of Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Canaccord Genuity Group raised their price objective on shares of Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $73.00 target price on shares of Claritev in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Hedge Funds Weigh In On Claritev

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. purchased a new position in Claritev during the third quarter valued at $1,245,000. Vanguard Group Inc. purchased a new position in shares of Claritev in the 3rd quarter worth about $27,483,000. Ameritas Investment Partners Inc. purchased a new stake in Claritev during the 3rd quarter valued at about $42,000. Russell Investments Group Ltd. purchased a new stake in Claritev during the 3rd quarter valued at about $369,000. Finally, Legal & General Group Plc purchased a new position in Claritev in the third quarter worth about $45,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

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.