Claritev (NYSE:CTEV) Trading Up 9.1% Following Insider Buying Activity

Claritev (NYSE:CTEV) shares rose 9.1% after EVP Michael Kim purchased 9,600 shares, increasing his stake by 10.01%. The stock traded as high as $46.49, with a closing price of $46.13. Citigroup raised its target price to $80, while Weiss Ratings maintained a 'sell' rating. Institutional investors hold 87.15% of the stock. Claritev provides data analytics and cost management solutions in the healthcare industry.

Claritev (NYSE:CTEV - Get Free Report) shares were up 9.1% during mid-day trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $46.49 and last traded at $46.13. Approximately 91,652 shares changed hands during trading, a decline of 32% from the average daily volume of 133,855 shares. The stock had previously closed at $42.29.

Specifically, EVP Michael Kim acquired 9,600 shares of the business's stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $38.25 per share, with a total value of $367,200.00. Following the completion of the transaction, the executive vice president directly owned 105,529 shares in the company, valued at approximately $4,036,484.25. This represents a 10.01% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTEV. Citigroup boosted their target price on Claritev from $74.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Claritev in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $80.00.

Get Our Latest Analysis on Claritev

Claritev Stock Up 9.1%

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 310.26. The stock has a market cap of $762.53 million, a P/E ratio of -2.21 and a beta of 0.42. The firm has a 50-day simple moving average of $57.41 and a two-hundred day simple moving average of $49.25.

Hedge Funds Weigh In On Claritev

Several institutional investors and hedge funds have recently modified their holdings of CTEV. Ameritas Investment Partners Inc. acquired a new stake in Claritev in the 3rd quarter worth about $42,000. Legal & General Group Plc bought a new position in shares of Claritev during the third quarter worth approximately $45,000. BNP Paribas Financial Markets bought a new position in shares of Claritev during the third quarter worth approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Claritev in the third quarter valued at approximately $187,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Claritev in the third quarter valued at approximately $322,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

About Claritev

(Get Free Report)

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.

Should You Invest $1,000 in Claritev Right Now?

Before you consider Claritev, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Claritev wasn't on the list.

While Claritev currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here