Key Points
- Corporate Investors VIII H&F sold 1,500,000 Claritev shares on Nov. 12 at an average price of $48.67 for about $73.0 million, reducing its holding by 99.41% to 8,932 shares.
- Claritev (CTEV) opened at $43.47 and was down 1.7%; the stock has a 52-week range of $4.80–$74.07, a market cap of roughly $718.6M and a negative P/E of -2.08.
- Analyst views are mixed: Citigroup raised its price target to $80 and rated the stock "buy," while Weiss Ratings kept a "sell (d-)," leaving a MarketBeat average rating of "Hold."
Claritev (NYSE:CTEV - Get Free Report) major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of Claritev stock in a transaction that occurred on 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 owned 8,932 shares of the company's stock, valued at $434,720.44. This trade represents a 99.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Claritev Stock Down 1.7%
NYSE:CTEV opened at $43.47 on Friday. Claritev has a 52 week low of $4.80 and a 52 week high of $74.07. The stock's fifty day moving average is $58.64 and its two-hundred day moving average is $48.63. The stock has a market capitalization of $718.56 million, a price-to-earnings ratio of -2.08 and a beta of 0.42. The company has a quick ratio of 0.98, a current ratio of 1.21 and a debt-to-equity ratio of 310.26.
Analysts Set New Price Targets
A number of equities analysts recently commented on CTEV shares. Weiss Ratings restated a "sell (d-)" rating on shares of Claritev in a report on Wednesday. Citigroup increased their price target on shares of Claritev from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $80.00.
Check Out Our Latest Report on CTEV
Institutional Trading of Claritev
A number of large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. acquired a new stake in Claritev in the third quarter valued at approximately $42,000. Legal & General Group Plc purchased a new stake in shares of Claritev in the 3rd quarter valued at approximately $45,000. BNP Paribas Financial Markets purchased a new stake in shares of Claritev in the 3rd quarter valued at approximately $79,000. Russell Investments Group Ltd. purchased a new stake in shares of Claritev during the 3rd quarter worth $369,000. Finally, Quantbot Technologies LP acquired a new position in shares of Claritev during the third quarter worth $385,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.
Claritev Company Profile
(
Get Free Report)
MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.
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