Topline Capital Management LLC Makes New $10.71 Million Investment in Claritev $CTEV

Topline Capital Management LLC acquired a new stake in Claritev (NYSE:CTEV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 201,782 shares of the company’s stock, valued at approximately $10,711,000. Claritev accounts for 1.8% of Topline Capital Management LLC’s portfolio, making the stock its 14th biggest holding. Topline Capital Management LLC owned 1.22% of Claritev as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CTEV. Ameritas Investment Partners Inc. bought a new position in Claritev during the third quarter worth $42,000. Legal & General Group Plc bought a new stake in Claritev in the 3rd quarter valued at $45,000. BNP Paribas Financial Markets acquired a new stake in Claritev in the 3rd quarter worth $79,000. Russell Investments Group Ltd. bought a new position in shares of Claritev during the 3rd quarter worth about $369,000. Finally, Quantbot Technologies LP bought a new position in shares of Claritev during the 3rd quarter worth about $385,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Wall Street Analyst Weigh In

CTEV has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Citigroup cut their price target on Claritev from $63.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Guggenheim reissued a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Finally, Wells Fargo & Company set a $30.00 price objective on Claritev and gave the company an “equal weight” rating in a research report on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.67.

Claritev Trading Up 5.3%

NYSE CTEV opened at $16.87 on Friday. Claritev has a 1-year low of $12.04 and a 1-year high of $74.07. The company has a 50 day moving average of $23.93 and a 200-day moving average of $43.33. The firm has a market cap of $278.52 million, a price-to-earnings ratio of -0.98 and a beta of 0.60.

Insiders Place Their Bets

In other Claritev news, EVP Michael Kim acquired 30,000 shares of Claritev stock in a transaction on Friday, February 27th. The shares were bought at an average price of $14.30 per share, with a total value of $429,000.00. Following the completion of the purchase, the executive vice president owned 137,973 shares in the company, valued at $1,973,013.90. This trade represents a 27.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Travis Dalton bought 15,380 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $199,940.00. Following the acquisition, the chief executive officer directly owned 24,952 shares of the company’s stock, valued at approximately $324,376. The trade was a 160.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.00% of the company’s stock.

About Claritev

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.