Claritev (NYSE:CTEV) Shares Up 5.9% – Time to Buy?

Claritev (NYSE:CTEV)’s share price traded up 5.9% during mid-day trading on Wednesday . The stock traded as high as $36.04 and last traded at $36.01. 75,330 shares changed hands during trading, a decline of 46% from the average session volume of 139,062 shares. The stock had previously closed at $34.00.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a research report on Monday. Citigroup lifted their target price on shares of Claritev from $74.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.00.

Claritev Trading Up 9.1%

The company has a debt-to-equity ratio of 310.26, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a fifty day simple moving average of $53.92 and a 200-day simple moving average of $51.40. The firm has a market cap of $613.26 million, a P/E ratio of -1.77 and a beta of 0.52.

Insider Transactions at Claritev

In other Claritev news, major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $434,720.44. The trade was a 99.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Travis Dalton acquired 5,290 shares of the stock in a transaction on Thursday, November 20th. The shares were acquired at an average price 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. The trade was a 123.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 17,347 shares of company stock valued at $710,938 in the last 90 days. 8.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Claritev

Several large investors have recently added to or reduced their stakes in CTEV. H&F Corporate Investors VIII Ltd. acquired a new position in Claritev during the 3rd quarter valued at about $285,988,000. AustralianSuper Pty Ltd bought a new position in shares of Claritev in the third quarter valued at approximately $169,605,000. Public Investment Fund purchased a new position in shares of Claritev during the third quarter valued at approximately $68,009,000. Ares Management LLC grew its holdings in Claritev by 108.5% during the first quarter. Ares Management LLC now owns 1,863,105 shares of the company’s stock worth $43,131,000 after buying an additional 969,367 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new stake in Claritev in the 3rd quarter valued at $27,483,000. Institutional investors own 87.15% of the company’s stock.

About Claritev

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.