Claritev (NYSE:CTEV) Stock: Insider Tiffani Misencik Sells 5,812 Shares

Claritev (NYSE:CTEV) SVP Tiffani Misencik sold 5,812 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $23.81, for a total transaction of $138,383.72. Following the sale, the senior vice president directly owned 107,917 shares in the company, valued at approximately $2,569,503.77. The trade was a 5.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tiffani Misencik also recently made the following trade(s):

• On Friday, August 14th, Tiffani Misencik sold 8,850 shares of Claritev stock. The stock was sold at an average price of $40.07, for a total transaction of $354,619.50.

Claritev Stock Down 7.5%

CTEV stock traded down $1.80 during midday trading on Friday, hitting $22.06. The company’s stock had a trading volume of 188,785 shares, compared to its average volume of 162,567. Claritev has a 52-week low of $11.50 and a 52-week high of $73.68. The firm has a market capitalization of $373.92 million, a P/E ratio of -1.30 and a beta of 0.93. The firm has a 50-day simple moving average of $31.85 and a 200-day simple moving average of $27.59.

Claritev (NYSE:CTEV) last posted its quarterly earnings results on Friday, August 7th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of ($4.10) by $5.51. The business had revenue of $257.48 million during the quarter. On average, sell-side analysts expect that Claritev will post -15.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays reissued an “overweight” rating and set a $40.00 target price (up from $28.00) on shares of Claritev in a research note on Thursday, August 20th. Wall Street Zen upgraded Claritev from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price target on shares of Claritev in a research report on Wednesday, August 12th. Wells Fargo & Company lifted their price objective on Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, Canaccord Genuity Group boosted their price objective on Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Claritev presently has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Institutional Investors Weigh In On Claritev

A number of large investors have recently modified their holdings of CTEV. Arini Captial Management Ltd purchased a new stake in shares of Claritev in the 4th quarter valued at approximately $64,291,000. Public Investment Fund purchased a new stake in shares of Claritev during the 2nd quarter worth $43,703,438. Bank of America Corp DE grew its stake in shares of Claritev by 146.6% during the first quarter. Bank of America Corp DE now owns 97,795 shares of the company’s stock worth $1,598,000 after purchasing an additional 58,133 shares in the last quarter. FAS Wealth Partners Inc. grew its stake in shares of Claritev by 49.5% during the first quarter. FAS Wealth Partners Inc. now owns 46,477 shares of the company’s stock worth $759,000 after purchasing an additional 15,380 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Claritev during the second quarter worth $245,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

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.