Key Points
- Ares Management increased its Claritev stake by purchasing 20,834 shares at an average of $24.07, a transaction valued at approximately $501,474. Ares now owns 1,933,939 shares, following an earlier purchase of 50,000 shares.
- Claritev shares opened at $22.35, well below the 50-day moving average of $29.67, while the company has a market capitalization of approximately $378.8 million. The stock has traded between $11.50 and $73.68 over the past year.
- Analyst sentiment is mixed but leans positive: Claritev has a consensus “Moderate Buy” rating and an average price target of $44.83, despite projected full-year losses and a current negative P/E ratio.
Claritev (NYSE:CTEV - Get Free Report) major shareholder Ares Management Llc acquired 20,834 shares of Claritev stock in a transaction that occurred on Monday, October 26th. The shares were purchased at an average cost of $24.07 per share, with a total value of $501,474.38. Following the transaction, the insider owned 1,933,939 shares of the company's stock, valued at approximately $46,549,911.73. The trade was a 1.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available 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.
Ares Management Llc also recently made the following trade(s):
- On Friday, October 23rd, Ares Management Llc bought 50,000 shares of Claritev stock. The stock was purchased at an average price of $23.53 per share, for a total transaction of $1,176,500.00.
Claritev Price Performance
Shares of NYSE CTEV opened at $22.35 on Wednesday. Claritev has a one year low of $11.50 and a one year high of $73.68. The business's 50-day moving average price is $29.67 and its two-hundred day moving average price is $25.83. The company has a market capitalization of $378.77 million, a P/E ratio of -1.31 and a beta of 0.93.
Claritev (NYSE:CTEV - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of ($4.10) by $5.51. The firm had revenue of $257.48 million for the quarter. On average, equities analysts anticipate that Claritev will post -15.13 EPS for the current year.
Institutional Trading of Claritev
A number of institutional investors and hedge funds have recently made changes to their positions in CTEV. Public Investment Fund acquired a new stake in shares of Claritev in the second quarter worth about $43,703,438. RBF Capital LLC boosted its stake in shares of Claritev by 0.8% during the 1st quarter. RBF Capital LLC now owns 135,314 shares of the company's stock worth $2,211,000 after acquiring an additional 1,127 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Claritev by 146.6% during the 1st quarter. Bank of America Corp DE now owns 97,795 shares of the company's stock valued at $1,598,000 after acquiring an additional 58,133 shares during the last quarter. FAS Wealth Partners Inc. increased its holdings in shares of Claritev by 49.5% during the 1st quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company's stock valued at $759,000 after acquiring an additional 15,380 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Claritev by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 18,111 shares of the company's stock valued at $296,000 after acquiring an additional 447 shares during the last quarter. Institutional investors and hedge funds own 87.15% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on CTEV shares. Zacks Research upgraded Claritev from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a research note on Monday, September 21st. Wall Street Zen raised shares of Claritev from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Wells Fargo & Company boosted their target price on shares of Claritev from $22.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 12th. Finally, Barclays restated an "overweight" rating and set a $40.00 price target (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.
Check Out Our Latest Stock Report on Claritev
About Claritev
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
