Douglas Michael Garis Purchases 1,300 Shares of Claritev (NYSE:CTEV) Stock

Key Points

• CFO Douglas Michael Garis bought 1,300 Claritev shares on March 16 at an average price of $17.69 for $22,997, raising his total holding to 206,152 shares (a 0.63% increase); the trade was disclosed in an SEC filing.
• Shares rose about 7% to $18.08 intraday after the trade; Claritev has a market cap of roughly $298.5M, a negative PE (-1.05), 50-/200-day moving averages of $23.93 and $42.93, and a 52-week range of $12.04–$74.07.
• Institutional investors own about 87.15% of the company, with recent activity from firms like Invesco and Third Point, while analysts are mixed — consensus rating "Hold" with an average price target of $29.67.

Claritev (NYSE:CTEV - Get Free Report) CFO Douglas Michael Garis purchased 1,300 shares of the business's stock in a transaction on Monday, March 16th. The stock was purchased at an average cost of $17.69 per share, for a total transaction of $22,997.00. Following the acquisition, the chief financial officer owned 206,152 shares in the company, valued at approximately $3,646,828.88. The trade was a 0.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Claritev Trading Up 7.0%

Shares of CTEV stock traded up $1.19 during mid-day trading on Monday, reaching $18.08. The stock had a trading volume of 97,715 shares, compared to its average volume of 228,553. The firm has a market capitalization of $298.50 million, a PE ratio of -1.05 and a beta of 0.61. The stock's 50-day moving average price is $23.93 and its two-hundred day moving average price is $42.93. Claritev has a 52-week low of $12.04 and a 52-week high of $74.07.

Hedge Funds Weigh In On Claritev

A number of institutional investors have recently added to or reduced their stakes in CTEV. Invesco Ltd. lifted its position in Claritev by 4.8% during the fourth quarter. Invesco Ltd. now owns 22,802 shares of the company's stock valued at $975,000 after buying an additional 1,044 shares during the period. FAS Wealth Partners Inc. increased its stake in shares of Claritev by 20.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 31,097 shares of the company's stock worth $1,329,000 after acquiring an additional 5,290 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Claritev in the 4th quarter worth about $729,000. Arini Captial Management Ltd purchased a new position in Claritev during the 4th quarter valued at about $64,291,000. Finally, Third Point LLC bought a new stake in Claritev during the fourth quarter worth about $6,199,000. Institutional investors own 87.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup dropped their price target on Claritev from $63.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Wells Fargo & Company set a $30.00 price objective on shares of Claritev and gave the stock an "equal weight" rating in a report on Tuesday, February 24th. UBS Group reaffirmed a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Claritev in a research note on Monday, December 29th. Finally, Guggenheim reiterated a "buy" rating on shares of Claritev in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $29.67.

Claritev Company Profile

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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