Tara O’neil Buys 625 Shares of Claritev (NYSE:CTEV) Stock

Claritev (NYSE:CTEV) SVP Tara O’neil acquired 625 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were bought at an average cost of $38.84 per share, for a total transaction of $24,275.00. Following the transaction, the senior vice president directly owned 25,028 shares of the company’s stock, valued at approximately $972,087.52. This trade represents a 2.56% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Claritev Stock Up 10.3%

NYSE:CTEV traded up $3.92 during midday trading on Tuesday, reaching $42.05. The company had a trading volume of 355,624 shares, compared to its average volume of 134,178. Claritev has a 12-month low of $4.80 and a 12-month high of $74.07. The firm has a market capitalization of $695.09 million, a price-to-earnings ratio of -2.01 and a beta of 0.42. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 310.26. The stock’s fifty day simple moving average is $58.01 and its 200-day simple moving average is $49.11.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. acquired a new stake in shares of Claritev during the 3rd quarter worth about $42,000. Legal & General Group Plc purchased a new position in Claritev in the third quarter valued at approximately $45,000. BNP Paribas Financial Markets acquired a new stake in Claritev during the third quarter worth approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Claritev during the 3rd quarter worth approximately $187,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Claritev during the 3rd quarter worth approximately $322,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

Wall Street Analyst Weigh In

CTEV has been the subject of a number of analyst reports. Citigroup boosted their price objective on Claritev from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $80.00.

About Claritev

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.