Claritev (NYSE:CTEV) Stock Rated "Moderate Buy" by Sell-Side Brokerages

Shares of Claritev (NYSE:CTEV - Get Free Report) have received an average recommendation of "Moderate Buy" from the nine brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $44.83.

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Claritev from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Canaccord Genuity Group boosted their price objective on shares of Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Claritev in a research report on Monday, September 21st. Zacks Research upgraded shares of Claritev from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company raised their target price on shares of Claritev from $22.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 12th.

Insider Buying and Selling at Claritev

In other news, SVP Tiffani Misencik sold 5,812 shares of the firm's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $23.81, for a total value of $138,383.72. Following the completion of the transaction, the senior vice president owned 107,917 shares in the company, valued at $2,569,503.77. This trade represents a 5.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Douglas Garis sold 9,025 shares of Claritev stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $30.59, for a total value of $276,074.75. Following the completion of the sale, the chief financial officer directly owned 185,416 shares in the company, valued at approximately $5,671,875.44. This represents a 4.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders bought 77,284 shares of company stock valued at $1,927,655 and sold 23,687 shares valued at $769,078. 7.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Claritev

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Investment Fund acquired a new stake in shares of Claritev in the 2nd quarter valued at approximately $43,703,438. RBF Capital LLC increased its holdings in Claritev by 0.8% during the first quarter. RBF Capital LLC now owns 135,314 shares of the company's stock worth $2,211,000 after buying an additional 1,127 shares during the last quarter. Bank of America Corp DE increased its holdings in Claritev by 146.6% during the first quarter. Bank of America Corp DE now owns 97,795 shares of the company's stock worth $1,598,000 after buying an additional 58,133 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in Claritev by 49.5% during the first quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company's stock worth $759,000 after buying an additional 15,380 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Claritev by 2.5% during the first quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company's stock worth $296,000 after buying an additional 447 shares during the last quarter. Institutional investors own 87.15% of the company's stock.

Claritev Price Performance

CTEV stock opened at $24.10 on Tuesday. The stock has a market capitalization of $408.50 million, a P/E ratio of -1.42 and a beta of 1.05. The business has a 50-day moving average of $27.15 and a 200-day moving average of $25.49. Claritev has a fifty-two week low of $11.50 and a fifty-two week high of $72.67.

Claritev (NYSE:CTEV - Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.68) by $5.45. The firm had revenue of $268.31 million for the quarter. Equities analysts expect that Claritev will post -15.13 EPS for the current year.

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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