H&F Corporate Investors VIII Ltd. Makes New Investment in Claritev $CTEV

H&F Corporate Investors VIII Ltd. bought a new position in shares of Claritev (NYSE:CTEV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,387,858 shares of the company’s stock, valued at approximately $285,988,000. Claritev comprises 100.0% of H&F Corporate Investors VIII Ltd.’s investment portfolio, making the stock its largest position. H&F Corporate Investors VIII Ltd. owned 0.33% of Claritev at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTEV. Ameritas Investment Partners Inc. bought a new stake in Claritev during the 3rd quarter worth about $42,000. Quantbot Technologies LP acquired a new position in shares of Claritev during the third quarter worth approximately $385,000. Rhumbline Advisers acquired a new position in shares of Claritev during the third quarter worth approximately $567,000. JPMorgan Chase & Co. bought a new stake in shares of Claritev during the third quarter valued at approximately $1,245,000. Finally, Citigroup Inc. bought a new stake in shares of Claritev during the third quarter valued at approximately $2,025,000. 87.15% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Travis Dalton purchased 15,380 shares of the stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $13.00 per share, with a total value of $199,940.00. Following the purchase, the chief executive officer directly owned 24,952 shares in the company, valued at $324,376. The trade was a 160.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Kim purchased 30,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average price of $14.30 per share, for a total transaction of $429,000.00. Following the completion of the transaction, the executive vice president directly owned 137,973 shares in the company, valued at $1,973,013.90. This trade represents a 27.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 8.00% of the company’s stock.

Claritev Stock Down 2.5%

CTEV stock opened at $17.27 on Friday. Claritev has a twelve month low of $12.04 and a twelve month high of $74.07. The company has a market cap of $285.13 million, a P/E ratio of -1.00 and a beta of 0.60. The business’s fifty day moving average is $26.39 and its 200-day moving average is $45.17.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTEV. Citigroup dropped their price objective on shares of Claritev from $63.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Claritev in a research report on Monday, December 29th. UBS Group restated a “buy” rating on shares of Claritev in a research report on Tuesday, February 24th. Guggenheim reaffirmed a “buy” rating on shares of Claritev in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company set a $30.00 price target on Claritev and gave the company an “equal weight” rating in a report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Claritev has a consensus rating of “Hold” and an average price target of $29.67.

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.