Claritev (NYSE:CTEV) SVP Tiffani Misencik Sells 8,850 Shares

Key Points

• Claritev SVP Tiffani Misencik sold 8,850 shares at an average price of $40.07, generating $354,619.50. Her remaining stake is 123,723 shares, representing a 6.68% reduction in ownership.
• Claritev shares traded at $35.42, while the company reported quarterly EPS of $1.41, beating analyst expectations by $5.51, on revenue of $257.48 million.
• Analyst sentiment remains favorable, with six Buy, two Hold and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $42.83. Institutional investors own 87.15% of the company.

Claritev (NYSE:CTEV - Get Free Report) SVP Tiffani Misencik sold 8,850 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $40.07, for a total transaction of $354,619.50. Following the transaction, the senior vice president owned 123,723 shares in the company, valued at $4,957,580.61. This trade represents a 6.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Claritev Trading Up 0.2%

CTEV stock traded up $0.07 during mid-day trading on Tuesday, hitting $35.42. 107,223 shares of the company were exchanged, compared to its average volume of 164,811. The firm has a fifty day simple moving average of $30.01 and a 200 day simple moving average of $24.08. The company has a market capitalization of $600.26 million, a PE ratio of -2.08 and a beta of 0.74. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07.

Claritev (NYSE:CTEV - Get Free Report) last issued its earnings results on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 -15.08 earnings per share for the current year.

Hedge Funds Weigh In On Claritev

Several institutional investors have recently made changes to their positions in CTEV. Arini Captial Management Ltd acquired a new position in Claritev during the 4th quarter valued at approximately $64,291,000. Beach Point Capital Management LP increased its position in Claritev by 77.4% in the fourth 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 period. Verition Fund Management LLC bought a new stake in Claritev in the third quarter valued at $767,000. XTX Topco Ltd bought a new stake in Claritev in the fourth quarter valued at $729,000. Finally, Jump Financial LLC acquired a new position in shares of Claritev during the fourth quarter valued at $397,000. 87.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Citigroup reissued a "buy" rating and set a $45.00 price target (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Claritev in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Claritev from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Barclays initiated coverage on shares of Claritev in a report on Friday, April 24th. They set an "overweight" rating and a $28.00 target price on the stock. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Claritev has an average rating of "Moderate Buy" and an average price target of $42.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source