Citigroup Inc. Buys New Holdings in Claritev $CTEV

Citigroup Inc. purchased a new position in shares of Claritev (NYSE:CTEV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 38,146 shares of the company’s stock, valued at approximately $2,025,000. Citigroup Inc. owned about 0.23% of Claritev at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in Claritev in the third quarter valued at approximately $1,245,000. Vanguard Group Inc. bought a new position in shares of Claritev in the third quarter worth approximately $27,483,000. Finally, Rhumbline Advisers purchased a new position in shares of Claritev in the third quarter worth $567,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

Claritev Stock Down 2.5%

Shares of CTEV stock opened at $17.27 on Monday. The stock has a fifty day moving average of $26.39 and a 200 day moving average of $44.82. Claritev has a 52 week low of $12.04 and a 52 week high of $74.07. The firm has a market capitalization of $285.11 million, a price-to-earnings ratio of -1.00 and a beta of 0.60.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Claritev

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

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.