Claritev (NYSE:CTEV) Stock: Insider Travis Dalton Purchases 5,110 Shares

Key Points

• CEO Travis Dalton purchased 5,110 Claritev shares at an average of $29.34, spending about $149,927. The purchase increased his direct stake by 9.77% to 57,432 shares.
• Claritev reported quarterly EPS of $1.77, above analysts’ consensus estimate of a $3.68 loss, and revenue of $268.31 million. Shares were trading at $26.89 in Friday mid-day trading.
• Analysts give Claritev a consensus “Moderate Buy” rating and an average price target of $44.83; six rate it Buy, two Hold, and one Sell.

Claritev (NYSE:CTEV - Get Free Report) CEO Travis Dalton bought 5,110 shares of Claritev stock in a transaction on Wednesday, November 11th. The shares were purchased at an average price of $29.34 per share, for a total transaction of $149,927.40. Following the acquisition, the chief executive officer directly owned 57,432 shares in the company, valued at approximately $1,685,054.88. This trade represents a 9.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, August 27th, Travis Dalton purchased 4,500 shares of Claritev stock. The shares were acquired at an average cost of $38.81 per share, with a total value of $174,645.00.
• On Friday, August 28th, Travis Dalton bought 1,950 shares of Claritev stock. The shares were acquired at an average price of $38.48 per share, with a total value of $75,036.00.

Claritev Trading Down 0.0%

Claritev stock traded down $0.01 during mid-day trading on Friday, hitting $26.89. The company had a trading volume of 175,323 shares, compared to its average volume of 176,164. The stock's 50 day moving average price is $26.42 and its two-hundred day moving average price is $25.46. Claritev has a 12 month low of $11.50 and a 12 month high of $55.50. The company has a market capitalization of $455.79 million, a PE ratio of -1.64 and a beta of 1.05.

Claritev (NYSE:CTEV - Get Free Report) last posted its earnings results on Monday, November 9th. The company reported $1.77 EPS for the quarter, topping analysts' consensus estimates of ($3.68) by $5.45. The business had revenue of $268.31 million during the quarter. Equities research analysts anticipate that Claritev will post -15.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CTEV. Engineers Gate Manager LP purchased a new position in Claritev during the 2nd quarter valued at $245,000. Integrated Wealth Concepts LLC purchased a new stake in Claritev in the second quarter worth $44,000. Public Investment Fund purchased a new stake in Claritev in the second quarter worth $43,703,438. FAS Wealth Partners Inc. lifted its position in shares of 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 purchasing an additional 15,380 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of 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 purchasing an additional 58,133 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTEV shares. Barclays reaffirmed an "overweight" rating and issued a $40.00 price objective (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Zacks Research raised Claritev from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Citigroup restated a "buy" rating and issued a $45.00 price target (up from $40.00) on shares of Claritev in a research note on Monday, August 10th. Canaccord Genuity Group increased their price objective on shares of Claritev from $37.00 to $43.00 and gave the company a "buy" rating in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a research report on Monday, September 21st. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.83.

Claritev Company Profile

Claritev, formerly known as MultiPlan, provides technology-enabled services intended to help manage healthcare costs and support payment accuracy. Its offerings include access to provider networks, claims and payment solutions, and data analytics for evaluating healthcare costs and utilization. The company serves health plans, self-insured employers, third-party administrators and other participants in the U.S. healthcare system. Its services are designed to help customers identify cost-management opportunities and support more efficient healthcare transactions.

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