Claritev (NYSE:CTEV) Shares Up 3.2% - Still a Buy?

Key Points

• Shares rose 3.2% to $17.98 on Thursday but trading was light (49,175 shares, down 61% vs. average), and the stock remains below its 50-day ($18.86) and 200-day ($36.76) moving averages.
• Analyst sentiment is mixed: several firms cut price targets (e.g., Citigroup $63→$21, Wells Fargo $30→$22), and the consensus rating is "Hold" with an average price target of $27.
• Insiders and institutions are active: executives bought roughly 61,680 shares in the last three months (EVP and CEO purchases), insiders own 7.4% while institutions own 87.15%, including large new stakes from H&F, AustralianSuper and the Public Investment Fund.

Claritev (NYSE:CTEV - Get Free Report)'s stock price shot up 3.2% on Thursday . The company traded as high as $18.08 and last traded at $17.98. 49,175 shares were traded during mid-day trading, a decline of 61% from the average session volume of 124,688 shares. The stock had previously closed at $17.43.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTEV. Citigroup cut their price target on shares of Claritev from $63.00 to $21.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Wells Fargo & Company cut their price target on shares of Claritev from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a research report on Friday, March 27th. Guggenheim reiterated a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. Finally, UBS Group reiterated a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.00.

Claritev Trading Up 3.2%

The business has a 50 day moving average of $18.86 and a 200-day moving average of $36.76. The firm has a market capitalization of $297.57 million, a P/E ratio of -1.04 and a beta of 0.53.

Insider Buying and Selling

In other Claritev news, EVP Michael Kim bought 15,000 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was acquired at an average cost of $16.50 per share, with a total value of $247,500.00. Following the purchase, the executive vice president owned 182,878 shares in the company, valued at $3,017,487. This trade represents a 8.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Travis Dalton bought 15,380 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $13.00 per share, with a total value of $199,940.00. Following the completion of the purchase, the chief executive officer owned 24,952 shares in the company, valued at $324,376. This represents a 160.68% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 61,680 shares of company stock valued at $899,437. 7.40% of the stock is owned by company insiders.

Institutional Trading of Claritev

A number of large investors have recently bought and sold shares of the business. H&F Corporate Investors VIII Ltd. bought a new stake in Claritev during the 3rd quarter worth approximately $285,988,000. AustralianSuper Pty Ltd bought a new stake in Claritev during the 3rd quarter worth approximately $169,605,000. Arini Captial Management Ltd bought a new stake in Claritev during the 4th quarter worth approximately $64,291,000. Public Investment Fund bought a new stake in Claritev during the 3rd quarter worth approximately $68,009,000. Finally, Beach Point Capital Management LP increased its stake in Claritev by 77.4% during the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company's stock worth $32,276,000 after purchasing an additional 329,424 shares in the last quarter. 87.15% of the stock is owned by 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.

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