Claritev (NYSE:CTEV) Major Shareholder Corporate Investors Viii H&F Sells 1,500,000 Shares of Stock

Claritev (NYSE:CTEV) major shareholder Corporate Investors Viii H&F sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $48.67, for a total transaction of $73,005,000.00. Following the transaction, the insider owned 8,932 shares of the company’s stock, valued at approximately $434,720.44. This trade represents a 99.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Claritev Price Performance

NYSE:CTEV opened at $43.47 on Friday. The stock has a 50 day moving average of $58.64 and a two-hundred day moving average of $48.63. Claritev has a 12 month low of $4.80 and a 12 month high of $74.07. The firm has a market cap of $718.56 million, a P/E ratio of -2.08 and a beta of 0.42. The company has a current ratio of 1.21, a quick ratio of 0.98 and a debt-to-equity ratio of 310.26.

Analysts Set New Price Targets

Several research analysts recently commented on CTEV shares. Citigroup increased their price objective on Claritev from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $80.00.

Hedge Funds Weigh In On Claritev

A number of institutional investors have recently bought and sold shares of the company. Ares Management LLC increased its holdings in shares of Claritev by 108.5% during the 1st 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 during the last quarter. Bridgeway Capital Management LLC acquired a new stake in Claritev during the third quarter worth $1,026,000. Russell Investments Group Ltd. purchased a new stake in Claritev in the third quarter valued at $369,000. BNP Paribas Financial Markets acquired a new position in shares of Claritev in the 3rd quarter valued at $79,000. Finally, Legal & General Group Plc acquired a new position in shares of Claritev in the 3rd quarter valued at $45,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

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.