Travis Dalton Purchases 1,950 Shares of Claritev (NYSE:CTEV) Stock

Key Points

• CEO Travis Dalton purchased 1,950 Claritev shares at an average price of $38.48, investing $75,036 and increasing his direct ownership by 3.87% to 52,322 shares.
• Claritev reported quarterly EPS of $1.41, beating the consensus estimate by $5.51, on revenue of $257.48 million. Analysts expect a full-year loss of $15.13 per share.
• Institutional investors own 87.15% of the stock, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $44.83.

Claritev (NYSE:CTEV - Get Free Report) CEO Travis Dalton bought 1,950 shares of the business's stock in a transaction on Friday, August 28th. The shares were acquired at an average price of $38.48 per share, with a total value of $75,036.00. Following the completion of the purchase, the chief executive officer directly owned 52,322 shares of the company's stock, valued at approximately $2,013,350.56. The trade was a 3.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Claritev Stock Down 1.8%

Shares of CTEV stock opened at $38.70 on Monday. Claritev has a twelve month low of $11.50 and a twelve month high of $74.07. The business has a fifty day simple moving average of $31.21 and a 200 day simple moving average of $24.74. The company has a market cap of $655.97 million, a P/E ratio of -2.28 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, beating the consensus estimate of ($4.10) by $5.51. The company had revenue of $257.48 million for the quarter. As a group, equities research analysts anticipate that Claritev will post -15.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Claritev

A number of hedge funds have recently bought and sold shares of CTEV. Public Investment Fund purchased a new stake in Claritev during the second quarter worth about $43,703,438. Arini Captial Management Ltd bought a new position in Claritev in the 4th quarter worth approximately $64,291,000. Beach Point Capital Management LP lifted its position in shares of Claritev by 77.4% during the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company's stock worth $32,276,000 after acquiring an additional 329,424 shares in the last quarter. AXQ Capital LP purchased a new stake in Claritev during the 4th quarter worth about $223,000. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of Claritev in the fourth quarter valued at approximately $449,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Zacks Research raised shares of Claritev from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Canaccord Genuity Group raised their price target on shares of Claritev from $37.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Piper Sandler reaffirmed an "overweight" rating and set a $73.00 price target on shares of Claritev in a research report on Wednesday, August 12th. Citigroup reissued a "buy" rating and issued a $45.00 price objective (up from $40.00) on shares of Claritev in a research note on Monday, August 10th. Finally, Wells Fargo & Company boosted their price target on Claritev from $22.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Claritev currently has an average 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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