AustralianSuper Pty Ltd Buys Shares of 3,195,270 Claritev $CTEV

AustralianSuper Pty Ltd purchased a new stake in shares of Claritev (NYSE:CTEV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,195,270 shares of the company’s stock, valued at approximately $169,605,000. Claritev accounts for approximately 0.8% of AustralianSuper Pty Ltd’s portfolio, making the stock its 26th biggest holding. AustralianSuper Pty Ltd owned about 19.39% of Claritev as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in Claritev during the 3rd quarter valued at about $42,000. Quantbot Technologies LP acquired a new stake in shares of Claritev in the third quarter valued at approximately $385,000. Rhumbline Advisers bought a new stake in shares of Claritev during the third quarter valued at approximately $567,000. JPMorgan Chase & Co. acquired a new position in shares of Claritev during the third quarter worth approximately $1,245,000. Finally, Citigroup Inc. acquired a new position in shares of Claritev during the third quarter worth approximately $2,025,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CTEV shares. Guggenheim assumed coverage on Claritev in a research note on Monday, January 12th. They set a “buy” rating and a $43.00 target price on the stock. Wells Fargo & Company set a $33.00 price objective on shares of Claritev and gave the company an “equal weight” rating in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a report on Monday, December 29th. Finally, Citigroup dropped their price target on shares of Claritev from $80.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Claritev has a consensus rating of “Hold” and a consensus target price of $46.33.

Insider Buying and Selling

In other Claritev news, major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $48.67, for a total transaction of $73,005,000.00. Following the completion of the sale, the insider directly owned 8,932 shares of the company’s stock, valued at approximately $434,720.44. This represents a 99.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Kim purchased 9,600 shares of Claritev stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average price of $38.25 per share, with a total value of $367,200.00. Following the transaction, the executive vice president owned 105,529 shares in the company, valued at $4,036,484.25. This represents a 10.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 17,347 shares of company stock worth $710,938 in the last quarter. 8.00% of the stock is currently owned by corporate insiders.

Claritev Stock Performance

NYSE CTEV opened at $27.03 on Thursday. Claritev has a 1 year low of $12.86 and a 1 year high of $74.07. The business’s fifty day moving average is $37.86 and its two-hundred day moving average is $50.23. The stock has a market capitalization of $446.81 million, a P/E ratio of -1.29 and a beta of 0.51.

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.