Key Points
- Travis Dalton, Claritev's CEO, purchased 5,290 shares on Nov. 20 at an average price of $47.23 for a total of ~$249,847, increasing his ownership to 9,572 shares (a 123.54% increase).
- CTEV traded at $44.44 on Friday; the company has a market cap of about $734.6 million, a negative P/E (-2.13), and a 12-month trading range of $5.61 to $74.07.
- Wall Street sentiment is mixed with a consensus "Hold" rating and $80 consensus price target (Citigroup is a buyer at $80 while Weiss Ratings is a sell), and institutional investors own roughly 87.15% of the stock.
Claritev (NYSE:CTEV - Get Free Report) CEO Travis Dalton bought 5,290 shares of the stock in a transaction dated Thursday, November 20th. The stock was purchased at an average cost of $47.23 per share, for a total transaction of $249,846.70. Following the acquisition, the chief executive officer owned 9,572 shares of the company's stock, valued at approximately $452,085.56. This represents a 123.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Claritev Stock Performance
NYSE CTEV traded down $0.79 during trading hours on Friday, hitting $44.44. 25,829 shares of the stock were exchanged, compared to its average volume of 135,334. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 310.26. The company has a market cap of $734.59 million, a price-to-earnings ratio of -2.13 and a beta of 0.42. Claritev has a 12-month low of $5.61 and a 12-month high of $74.07. The stock has a 50-day moving average of $56.54 and a 200 day moving average of $49.20.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on CTEV. Weiss Ratings restated a "sell (d-)" rating on shares of Claritev in a research note on Tuesday. Citigroup raised their price target on Claritev from $74.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Claritev currently has a consensus rating of "Hold" and a consensus price target of $80.00.
Read Our Latest Stock Report on Claritev
Institutional Investors Weigh In On Claritev
Several hedge funds have recently modified their holdings of CTEV. Ameritas Investment Partners Inc. acquired a new position in shares of Claritev during the third quarter worth $42,000. Legal & General Group Plc acquired a new position in shares of Claritev in the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets bought a new stake in Claritev during the third quarter valued at $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Claritev during the third quarter worth about $187,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Claritev in the 3rd quarter worth approximately $322,000. 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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