Claritev (NYSE:CTEV – Get Free Report) major shareholder Ares Management Llc purchased 50,000 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $23.53 per share, with a total value of $1,176,500.00. Following the acquisition, the insider directly owned 1,913,105 shares of the company’s stock, valued at $45,015,360.65. This trade represents a 2.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Ares Management Llc also recently made the following trade(s):
- On Monday, October 26th, Ares Management Llc purchased 20,834 shares of Claritev stock. The stock was bought at an average price of $24.07 per share, with a total value of $501,474.38.
Claritev Stock Up 3.8%
Shares of CTEV opened at $22.35 on Wednesday. The business has a 50-day simple moving average of $29.67 and a two-hundred day simple moving average of $25.83. Claritev has a 52 week low of $11.50 and a 52 week high of $73.68. The stock has a market cap of $378.77 million, a price-to-earnings ratio of -1.31 and a beta of 0.93.
Claritev (NYSE:CTEV – Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of ($4.10) by $5.51. The company had revenue of $257.48 million during the quarter. On average, equities analysts anticipate that Claritev will post -15.13 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Claritev
Large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Claritev during the second quarter worth about $44,000. State of Wyoming raised its stake in Claritev by 239.2% during the 1st quarter. State of Wyoming now owns 2,018 shares of the company’s stock valued at $33,000 after purchasing an additional 1,423 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Claritev in the 1st quarter worth approximately $38,000. Engineers Gate Manager LP purchased a new position in Claritev in the 2nd quarter worth approximately $245,000. Finally, Bank of New York Mellon Corp lifted its holdings in Claritev by 2.5% in the 1st quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company’s stock worth $296,000 after purchasing an additional 447 shares in the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. Barclays restated an “overweight” rating and set a $40.00 target price (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Wall Street Zen upgraded shares of Claritev from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler reissued an “overweight” rating and issued a $73.00 price objective on shares of Claritev in a research note on Wednesday, August 12th. Canaccord Genuity Group increased their price objective on shares of Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Citigroup restated a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.
Check Out Our Latest Analysis on CTEV
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.
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