Wall Street Zen Downgrades Claritev (NYSE:CTEV) to Sell

Key Points

• Wall Street Zen downgraded Claritev (NYSE:CTEV) from a "hold" to a "sell" rating in a research report issued Saturday.
• Analyst views remain mixed but skew positive: four Buys, one Hold and one Sell give a consensus rating of "Moderate Buy" with a consensus target price of $27.25.
• Company insiders increased positions recently (CEO bought 15,380 shares at $13.00 and the EVP bought 30,000 shares at $14.30), with insiders buying 61,680 shares (~$899,437) last quarter and owning 7.40% total; CTEV traded up about 17.4%, opening at $23.84.

Claritev (NYSE:CTEV - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Claritev in a research note on Friday, March 27th. Barclays began coverage on shares of Claritev in a research note on Friday. They issued an "overweight" rating and a $28.00 price objective for the company. Guggenheim reaffirmed a "buy" rating on shares of Claritev in a research note on Tuesday, February 24th. Wells Fargo & Company reduced their price objective on shares of Claritev from $30.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, March 19th. Finally, UBS Group reaffirmed a "buy" rating on shares of Claritev in a research note on Tuesday, February 24th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Claritev currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.25.

Claritev Trading Up 17.4%

CTEV stock opened at $23.84 on Friday. Claritev has a 1 year low of $12.04 and a 1 year high of $74.07. The company has a fifty day simple moving average of $17.92 and a 200 day simple moving average of $34.40. The firm has a market cap of $394.55 million, a PE ratio of -1.38 and a beta of 0.53.

Insider Buying and Selling at Claritev

In other news, CEO Travis Dalton bought 15,380 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $199,940.00. Following the acquisition, the chief executive officer directly owned 24,952 shares of the company's stock, valued at $324,376. The trade was a 160.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Kim bought 30,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $14.30 per share, for a total transaction of $429,000.00. Following the acquisition, the executive vice president directly owned 137,973 shares in the company, valued at approximately $1,973,013.90. This trade represents a 27.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 61,680 shares of company stock worth $899,437 in the last quarter. Insiders own 7.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State of Wyoming bought a new position in Claritev in the 4th quarter worth $25,000. Ameritas Investment Partners Inc. bought a new position in shares of Claritev during the 3rd quarter worth about $42,000. Legal & General Group Plc bought a new position in shares of Claritev during the 3rd quarter worth about $45,000. Los Angeles Capital Management LLC bought a new position in shares of Claritev during the 4th quarter worth about $45,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Claritev during the 3rd quarter worth about $79,000. Institutional investors own 87.15% of the company's stock.

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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