Travis Dalton Buys 4,500 Shares of Claritev (NYSE:CTEV) Stock

Claritev (NYSE:CTEV) CEO Travis Dalton bought 4,500 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was acquired at an average cost of $38.81 per share, with a total value of $174,645.00. Following the completion of the acquisition, the chief executive officer owned 50,372 shares of the company’s stock, valued at $1,954,937.32. This represents a 9.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, August 28th, Travis Dalton purchased 1,950 shares of Claritev stock. The stock was acquired at an average price of $38.48 per share, for a total transaction of $75,036.00.

Claritev Stock Down 1.2%

Claritev stock opened at $39.37 on Wednesday. The company has a market cap of $667.32 million, a price-to-earnings ratio of -2.31 and a beta of 0.87. The firm’s fifty day moving average is $31.62 and its 200 day moving average is $25.00. Claritev has a 52-week low of $11.50 and a 52-week high of $74.07.

Claritev (NYSE:CTEV) last issued its quarterly earnings data on Friday, August 7th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. On average, equities research analysts anticipate that Claritev will post -15.13 earnings per share for the current fiscal year.

Institutional Trading of Claritev

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTEV. Public Investment Fund purchased a new position in shares of Claritev during the second quarter valued at approximately $43,703,438. Arini Captial Management Ltd purchased a new stake in shares of Claritev in the fourth quarter worth approximately $64,291,000. Beach Point Capital Management LP raised its holdings in shares of Claritev by 77.4% in the fourth quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock worth $32,276,000 after buying an additional 329,424 shares during the period. State of Wyoming bought a new stake in shares of Claritev during the 4th quarter worth approximately $25,000. Finally, California State Teachers Retirement System lifted its stake in shares of Claritev by 798.0% during the 2nd quarter. California State Teachers Retirement System now owns 4,400 shares of the company’s stock worth $150,000 after acquiring an additional 3,910 shares during the last quarter. 87.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Wells Fargo & Company lifted their target price on Claritev from $22.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 12th. Citigroup reissued a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Barclays reissued an “overweight” rating and set a $40.00 target price (up from $28.00) on shares of Claritev in a research report on Thursday, August 20th. Finally, Canaccord Genuity Group raised their price target on Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Claritev has an average rating of “Moderate Buy” and a consensus target price 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.