Claritev (NYSE:CTEV) CFO Sells $276,074.75 in Stock

Claritev (NYSE:CTEV) CFO Douglas Garis sold 9,025 shares of Claritev stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $30.59, for a total value of $276,074.75. Following the transaction, the chief financial officer owned 185,416 shares of the company’s stock, valued at $5,671,875.44. The trade was a 4.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Claritev Trading Down 6.7%

NYSE CTEV opened at $23.36 on Friday. The stock has a market capitalization of $395.95 million, a price-to-earnings ratio of -1.37 and a beta of 0.88. The stock has a 50-day moving average of $32.33 and a 200 day moving average of $26.81. Claritev has a twelve month low of $11.50 and a twelve month high of $73.68.

Claritev (NYSE:CTEV) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of ($4.10) by $5.51. The company had revenue of $257.48 million during the quarter. Equities analysts predict that Claritev will post -15.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Claritev

Several institutional investors have recently bought and sold shares of CTEV. State of Wyoming boosted its stake in shares of Claritev by 239.2% in the 1st quarter. State of Wyoming now owns 2,018 shares of the company’s stock valued at $33,000 after buying an additional 1,423 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Claritev in the first quarter valued at approximately $38,000. Integrated Wealth Concepts LLC acquired a new stake in Claritev in the second quarter valued at approximately $44,000. AXQ Capital LP purchased a new position in Claritev in the fourth quarter worth approximately $223,000. Finally, Engineers Gate Manager LP purchased a new position in Claritev in the second quarter worth approximately $245,000. 87.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTEV has been the subject of several analyst reports. Zacks Research upgraded Claritev from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Wall Street Zen raised shares of Claritev from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Claritev in a report on Monday. Citigroup restated a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Finally, Canaccord Genuity Group lifted their target price on shares of Claritev from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Claritev has a consensus rating of “Moderate Buy” and a consensus target price of $44.83.

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.