Insider Selling: Claritev (NYSE:CTEV) SVP Sells 8,431 Shares of Stock

Key Points

• Claritev SVP William Mintz sold 8,431 shares at an average price of $34.24, generating proceeds of approximately $288,677. After the sale, he retained 71,195 shares, a 10.59% reduction in his direct ownership.
• Claritev shares traded at $35.06, well above their 50-day and 200-day moving averages of $29.15 and $23.83, respectively, but remain below the 12-month high of $74.07.
• Analyst sentiment is mixed, with six Buy, one Hold and two Sell ratings; the consensus rating is Hold, with an average price target of $42.83. Institutional investors and hedge funds own 87.15% of the company.

Claritev (NYSE:CTEV - Get Free Report) SVP William Mintz sold 8,431 shares of Claritev stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $34.24, for a total value of $288,677.44. Following the completion of the sale, the senior vice president directly owned 71,195 shares in the company, valued at $2,437,716.80. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Claritev Price Performance

NYSE CTEV traded up $0.10 during mid-day trading on Wednesday, hitting $35.06. The stock had a trading volume of 125,661 shares, compared to its average volume of 164,896. The firm's 50 day moving average is $29.15 and its 200 day moving average is $23.83. The stock has a market capitalization of $597.70 million, a price-to-earnings ratio of -2.06 and a beta of 0.74. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday. Wells Fargo & Company increased their price target on Claritev from $22.00 to $30.00 and gave the company an "equal weight" rating in a report on Wednesday. Wall Street Zen upgraded Claritev from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays started coverage on Claritev in a research note on Friday, April 24th. They set an "overweight" rating and a $28.00 price objective on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Claritev in a report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Claritev has an average rating of "Hold" and an average price target of $42.83.

Hedge Funds Weigh In On Claritev

Several institutional investors and hedge funds have recently bought and sold shares of CTEV. JPMorgan Chase & Co. acquired a new stake in shares of Claritev during the 3rd quarter worth approximately $1,245,000. Vanguard Group Inc. acquired a new position in Claritev in the third quarter valued at approximately $27,483,000. Ameritas Investment Partners Inc. acquired a new position in Claritev in the third quarter valued at approximately $42,000. Russell Investments Group Ltd. purchased a new position in Claritev in the third quarter worth approximately $369,000. Finally, Legal & General Group Plc purchased a new position in Claritev in the third quarter worth approximately $45,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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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