1,281,250 Shares in Claritev $CTEV Bought by Public Investment Fund

Public Investment Fund bought a new position in shares of Claritev (NYSE:CTEV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,281,250 shares of the company’s stock, valued at approximately $43,703,438,000. Claritev makes up 0.1% of Public Investment Fund’s investment portfolio, making the stock its 5th biggest holding. Public Investment Fund owned approximately 7.56% of Claritev at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State of Wyoming purchased a new position in Claritev during the 4th quarter valued at about $25,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Claritev in the third quarter valued at about $42,000. Legal & General Group Plc acquired a new stake in shares of Claritev in the third quarter valued at approximately $45,000. Los Angeles Capital Management LLC acquired a new stake in shares of Claritev in the fourth quarter valued at approximately $45,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Claritev during the 3rd quarter worth approximately $79,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTEV has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a research report on Wednesday, June 24th. Citigroup reissued a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Claritev in a report on Monday, August 10th. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Claritev in a research note on Wednesday, August 12th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.83.

Insider Buying and Selling

In other news, SVP Tiffani Misencik sold 8,850 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $40.07, for a total value of $354,619.50. Following the completion of the sale, the senior vice president owned 123,723 shares of the company’s stock, valued at $4,957,580.61. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William B. Mintz sold 8,431 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $34.24, for a total value of $288,677.44. Following the completion of the transaction, the senior vice president owned 71,195 shares of the company’s stock, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 7.40% of the company’s stock.

Claritev Price Performance

Shares of CTEV stock opened at $37.60 on Thursday. The firm has a market cap of $637.32 million, a P/E ratio of -2.21 and a beta of 0.74. Claritev has a 1-year low of $11.50 and a 1-year high of $74.07. The firm’s 50-day simple moving average is $30.84 and its 200-day simple moving average is $24.55.

Claritev (NYSE:CTEV) last announced its quarterly earnings data 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. Analysts expect that Claritev will post -15.13 earnings per share for the current fiscal year.

Claritev 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.