3,195,270 Shares in Claritev $CTEV Purchased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd bought a new stake in shares of Claritev (NYSE:CTEV) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,195,270 shares of the company’s stock, valued at approximately $169,605,000. Claritev makes up 0.8% of AustralianSuper Pty Ltd’s portfolio, making the stock its 26th biggest position. AustralianSuper Pty Ltd owned approximately 0.19% of Claritev at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in shares of Claritev during the third quarter worth approximately $27,483,000. Citigroup Inc. acquired a new stake in shares of Claritev during the 3rd quarter valued at $2,025,000. JPMorgan Chase & Co. purchased a new position in shares of Claritev during the 3rd quarter valued at $1,245,000. Rhumbline Advisers purchased a new position in Claritev in the third quarter valued at about $567,000. Finally, Quantbot Technologies LP acquired a new position in Claritev in the third quarter worth approximately $385,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

Claritev Stock Down 0.0%

Claritev stock opened at $27.03 on Thursday. The business has a 50 day moving average price of $37.86 and a two-hundred day moving average price of $50.23. Claritev has a 12 month low of $12.86 and a 12 month high of $74.07. The stock has a market cap of $446.81 million, a price-to-earnings ratio of -1.29 and a beta of 0.51.

Wall Street Analyst Weigh In

Several research firms have commented on CTEV. Wells Fargo & Company set a $33.00 target price on shares of Claritev and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Guggenheim started coverage on Claritev in a research note on Monday, January 12th. They issued a “buy” rating and a $43.00 price objective on the stock. Citigroup decreased their target price on Claritev from $80.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Claritev presently has a consensus rating of “Hold” and a consensus price target of $46.33.

Insider Transactions at Claritev

In other news, CEO Travis Dalton bought 5,290 shares of Claritev stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average cost of $47.23 per share, with a total value of $249,846.70. Following the completion of the transaction, the chief executive officer directly owned 9,572 shares in the company, valued at $452,085.56. This trade represents a 123.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Kim purchased 9,600 shares of the stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $38.25 per share, for a total transaction of $367,200.00. Following the acquisition, the executive vice president directly owned 105,529 shares in the company, valued at approximately $4,036,484.25. This trade represents a 10.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 17,347 shares of company stock valued at $710,938. Company insiders own 8.00% of the company’s stock.

About Claritev

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.