Claritev $CTEV Shares Bought by Beach Point Capital Management LP

Beach Point Capital Management LP boosted its position in shares of Claritev (NYSE:CTEV) by 77.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 755,002 shares of the company’s stock after acquiring an additional 329,424 shares during the period. Claritev comprises 12.5% of Beach Point Capital Management LP’s investment portfolio, making the stock its 3rd biggest holding. Beach Point Capital Management LP’s holdings in Claritev were worth $32,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new position in Claritev during the 3rd quarter worth approximately $42,000. Legal & General Group Plc acquired a new position in Claritev during the 3rd quarter worth approximately $45,000. BNP Paribas Financial Markets acquired a new position in Claritev during the 3rd quarter worth approximately $79,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Claritev during the 3rd quarter worth approximately $187,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Claritev during the 3rd quarter worth approximately $322,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CTEV. Canaccord Genuity Group initiated coverage on shares of Claritev in a report on Friday. They set a “buy” rating and a $32.00 price target for the company. Barclays initiated coverage on shares of Claritev in a report on Friday, April 24th. They issued an “overweight” rating and a $28.00 target price for the company. Wall Street Zen cut shares of Claritev from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Claritev in a report on Friday, March 27th. Finally, UBS Group restated a “buy” rating on shares of Claritev in a report on Tuesday, February 24th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.20.

Claritev Trading Up 3.0%

Shares of Claritev stock opened at $25.29 on Friday. The company has a fifty day simple moving average of $20.42 and a 200-day simple moving average of $28.04. Claritev has a 12-month low of $11.50 and a 12-month high of $74.07. The stock has a market cap of $431.19 million, a price-to-earnings ratio of -1.46 and a beta of 0.76.

Insiders Place Their Bets

In other Claritev news, EVP Michael Kim purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was purchased at an average price of $16.50 per share, for a total transaction of $247,500.00. Following the purchase, the executive vice president directly owned 182,878 shares in the company, valued at approximately $3,017,487. This trade represents a 8.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.40% of the stock is currently owned by corporate insiders.

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.