Claritev (NYSE:CTEV) Upgraded by Zacks Research to Hold Rating

Claritev (NYSE:CTEV) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on CTEV. 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. Wells Fargo & Company raised their price objective on shares of Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Canaccord Genuity Group upped their target price on Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.83.

Claritev Stock Down 8.8%

Shares of CTEV stock opened at $38.51 on Thursday. Claritev has a fifty-two week low of $11.50 and a fifty-two week high of $74.07. The stock has a market cap of $652.74 million, a P/E ratio of -2.26 and a beta of 0.74. The business has a fifty day simple moving average of $29.85 and a 200-day simple moving average of $24.05.

Insider Activity

In other news, SVP William B. Mintz sold 8,431 shares of Claritev stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $34.24, for a total transaction 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. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of Claritev

Hedge funds and other institutional investors have recently bought and sold shares of the company. Arini Captial Management Ltd acquired a new position in Claritev in the 4th quarter valued at $64,291,000. Beach Point Capital Management LP boosted its holdings 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 purchasing an additional 329,424 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Claritev in the third quarter valued at $187,000. BNP Paribas Financial Markets acquired a new position in Claritev in the third quarter valued at $79,000. Finally, Los Angeles Capital Management LLC acquired a new position in Claritev in the fourth quarter valued at $45,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

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.