Claritev (NYSE:CTEV) Trading Up 10.5% – What’s Next?

Claritev (NYSE:CTEV)’s share price rose 10.5% on Monday . The stock traded as high as $32.01 and last traded at $31.99. Approximately 55,309 shares were traded during trading, a decline of 77% from the average daily volume of 241,442 shares. The stock had previously closed at $28.94.

Analyst Upgrades and Downgrades

Several research firms have commented on CTEV. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research note on Monday, December 29th. Guggenheim assumed coverage on Claritev in a research report on Monday. They set a “buy” rating and a $43.00 price target for the company. Citigroup dropped their price target on Claritev from $80.00 to $63.00 and set a “buy” rating on the stock in a report on Friday. Finally, Wells Fargo & Company set a $33.00 price objective on Claritev and gave the company an “equal weight” rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $46.33.

Claritev Price Performance

The stock has a 50-day simple moving average of $44.45 and a 200-day simple moving average of $51.71.

Insider Transactions at Claritev

In other Claritev news, EVP Michael Kim purchased 9,600 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average cost of $38.25 per share, for a total transaction of $367,200.00. Following the purchase, the executive vice president owned 105,529 shares of the company’s stock, valued at $4,036,484.25. This represents a 10.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Travis Dalton acquired 5,290 shares of Claritev stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of $47.23 per share, with a total value of $249,846.70. Following the completion of the purchase, the chief executive officer directly owned 9,572 shares in the company, valued at $452,085.56. This represents a 123.54% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 17,347 shares of company stock valued at $710,938. 8.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Claritev

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers bought a new position in shares of Claritev in the 3rd quarter worth $567,000. JPMorgan Chase & Co. purchased a new position in Claritev in the third quarter worth $1,245,000. Vanguard Group Inc. bought a new position in Claritev in the third quarter valued at $27,483,000. Citigroup Inc. purchased a new stake in Claritev during the third quarter valued at about $2,025,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in Claritev during the third quarter valued at about $42,000. Hedge funds and other 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.