Claritev (NYSE:CTEV) CEO Buys 4,500 Shares of Stock

Key Points

• CEO Travis Dalton increased his Claritev stake by purchasing 4,500 shares at an average of $38.81, investing $174,645. He also bought 1,950 additional shares the following day, bringing his direct ownership to 50,372 shares.
• Claritev shares rose 0.7% to $39.65, while the company reported quarterly EPS of $1.41, exceeding analysts’ consensus estimate of a $4.10 loss; revenue totaled $257.48 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $44.83. Institutional investors own 87.15% of the company.

Claritev (NYSE:CTEV - Get Free Report) CEO Travis Dalton purchased 4,500 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were acquired at an average price of $38.81 per share, for a total transaction of $174,645.00. Following the completion of the transaction, the chief executive officer directly owned 50,372 shares of the company's stock, valued at $1,954,937.32. The trade was a 9.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Travis Dalton also recently made the following trade(s):

• On Friday, August 28th, Travis Dalton purchased 1,950 shares of Claritev stock. The stock was bought at an average cost of $38.48 per share, with a total value of $75,036.00.

Claritev Stock Up 0.7%

Shares of CTEV traded up $0.26 during midday trading on Monday, reaching $39.65. The company had a trading volume of 34,341 shares, compared to its average volume of 161,816. The firm has a 50 day simple moving average of $31.21 and a 200-day simple moving average of $24.74. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07. The stock has a market cap of $672.07 million, a PE ratio of -2.33 and a beta of 0.74.

Claritev (NYSE:CTEV - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($4.10) by $5.51. The firm had revenue of $257.48 million for the quarter. As a group, sell-side analysts anticipate that Claritev will post -15.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Claritev

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in shares of Claritev by 798.0% during the second quarter. California State Teachers Retirement System now owns 4,400 shares of the company's stock worth $150,000 after purchasing an additional 3,910 shares during the last quarter. Public Investment Fund acquired a new stake in shares of Claritev in the 2nd quarter worth $43,703,438. FAS Wealth Partners Inc. boosted its holdings in shares of Claritev by 49.5% in the first quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company's stock valued at $759,000 after acquiring an additional 15,380 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Claritev by 146.6% in the first quarter. Bank of America Corp DE now owns 97,795 shares of the company's stock valued at $1,598,000 after acquiring an additional 58,133 shares in the last quarter. Finally, RBF Capital LLC increased its stake in shares of 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 acquiring an additional 1,127 shares during the period. Hedge funds and other institutional investors own 87.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTEV. Canaccord Genuity Group upped their price objective on Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Wall Street Zen raised Claritev from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Citigroup reaffirmed 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. Wells Fargo & Company increased their price objective on Claritev from $22.00 to $30.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Finally, Barclays reissued an "overweight" rating and set a $40.00 target price (up from $28.00) on shares of Claritev in a research report on Thursday, August 20th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.83.

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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