Renaissance Technologies LLC Cuts Holdings in Claritev $CTEV

Renaissance Technologies LLC decreased its position in Claritev (NYSE:CTEV) by 35.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,915 shares of the company’s stock after selling 28,000 shares during the period. Renaissance Technologies LLC’s holdings in Claritev were worth $848,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake 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 worth $296,000 after acquiring an additional 447 shares in the last quarter. State of Wyoming purchased a new position in shares of Claritev in the 4th quarter valued at about $25,000. Ameritas Investment Partners Inc. purchased a new position in shares of Claritev in the 3rd quarter valued at about $42,000. Legal & General Group Plc purchased a new position in shares of Claritev in the 3rd quarter valued at about $45,000. Finally, Invesco Ltd. raised its holdings in Claritev by 4.8% in the 4th quarter. Invesco Ltd. now owns 22,802 shares of the company’s stock worth $975,000 after purchasing an additional 1,044 shares during the period. Institutional investors and hedge funds own 87.15% of the company’s stock.

Insider Activity at Claritev

In related news, SVP William B. Mintz sold 8,431 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $34.24, for a total value of $288,677.44. Following the completion of the transaction, the senior vice president directly owned 71,195 shares of the company’s stock, valued at approximately $2,437,716.80. This represents a 10.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on CTEV shares. Zacks Research upgraded Claritev from a “strong sell” rating to a “hold” rating in a research report on Thursday. Canaccord Genuity Group boosted their price objective on Claritev from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Wall Street Zen raised Claritev from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup reiterated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Finally, Barclays began coverage on shares of Claritev in a research note on Friday, April 24th. They issued an “overweight” rating and a $28.00 price target on the stock. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

Claritev Trading Down 8.8%

NYSE:CTEV opened at $38.51 on Friday. Claritev has a 12 month low of $11.50 and a 12 month high of $74.07. The stock has a 50 day moving average of $29.85 and a two-hundred day moving average of $24.05. The firm has a market cap of $652.74 million, a P/E ratio of -2.26 and a beta of 0.74.

Claritev 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.