Michael Kim Acquires 15,000 Shares of Claritev (NYSE:CTEV) Stock

Claritev (NYSE:CTEV) EVP Michael Kim acquired 15,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $16.50 per share, with a total value of $247,500.00. Following the completion of the transaction, the executive vice president owned 182,878 shares in the company, valued at approximately $3,017,487. This represents a 8.94% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Kim also recently made the following trade(s):

• On Friday, February 27th, Michael Kim acquired 30,000 shares of Claritev stock. The shares were bought at an average cost of $14.30 per share, for a total transaction of $429,000.00.

Claritev Trading Down 3.9%

Shares of Claritev stock opened at $16.91 on Wednesday. The company has a fifty day simple moving average of $23.40 and a 200-day simple moving average of $42.16. Claritev has a 12-month low of $12.04 and a 12-month high of $74.07. The stock has a market cap of $279.18 million, a price-to-earnings ratio of -0.98 and a beta of 0.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AustralianSuper Pty Ltd purchased a new stake in Claritev during the 3rd quarter valued at approximately $169,605,000. Oak Hill Advisors LP purchased a new position in shares of Claritev in the 3rd quarter valued at approximately $4,871,000. H&F Corporate Investors VIII Ltd. acquired a new position in shares of Claritev in the third quarter valued at approximately $285,988,000. Topline Capital Management LLC acquired a new position in shares of Claritev in the third quarter valued at approximately $10,711,000. Finally, Citigroup Inc. acquired a new position in shares of Claritev in the third quarter valued at approximately $2,025,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.