Clarivate (NYSE:CLVT) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Clarivate (NYSE:CLVT – Get Rating) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Clarivate Analytics PLC operates as an information services and analytics company. It offers scientific, patient and academic research, as well as intelligence, domain and brand protection and intellectual property management solutions. Clarivate Analytics PLC, formerly known as Churchill Capital Corp, is based in Jersey, Channel Islands. “

Other equities analysts have also recently issued reports about the company. Barclays cut Clarivate from an overweight rating to an equal weight rating and reduced their target price for the company from $25.00 to $16.00 in a research note on Thursday, February 3rd. Morgan Stanley reduced their target price on Clarivate from $20.00 to $19.00 and set an overweight rating on the stock in a research note on Friday, March 11th. The Goldman Sachs Group reduced their target price on Clarivate from $23.00 to $20.00 and set a buy rating on the stock in a research note on Tuesday, April 19th. TheStreet cut Clarivate from a c- rating to a d+ rating in a research note on Monday, March 14th. Finally, Citigroup cut Clarivate from a buy rating to a neutral rating and reduced their target price for the company from $35.00 to $16.00 in a research note on Friday, February 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $19.50.

Shares of CLVT stock opened at $14.66 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.87 and a current ratio of 0.87. Clarivate has a fifty-two week low of $11.71 and a fifty-two week high of $34.79. The stock has a 50 day moving average price of $15.73 and a two-hundred day moving average price of $18.64. The company has a market capitalization of $9.86 billion, a P/E ratio of -37.59 and a beta of 0.84.

Clarivate (NYSE:CLVT – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. Clarivate had a positive return on equity of 4.89% and a negative net margin of 4.77%. The firm had revenue of $662.20 million during the quarter, compared to the consensus estimate of $662.84 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 54.6% on a year-over-year basis. As a group, equities analysts predict that Clarivate will post 0.71 earnings per share for the current year.

In related news, insider James Gordon Samson sold 58,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $13.91, for a total value of $806,780.00. Following the sale, the insider now directly owns 888,787 shares of the company’s stock, valued at $12,363,027.17. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 124,000 shares of company stock worth $1,745,360. 24.88% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Walleye Trading LLC grew its stake in Clarivate by 3,162.5% in the first quarter. Walleye Trading LLC now owns 33,688 shares of the company’s stock worth $565,000 after purchasing an additional 34,788 shares during the period. Rivulet Capital LLC purchased a new stake in shares of Clarivate in the first quarter worth $85,627,000. Rudius Management LP grew its stake in shares of Clarivate by 16.2% in the first quarter. Rudius Management LP now owns 1,249,483 shares of the company’s stock worth $20,941,000 after acquiring an additional 173,797 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Clarivate in the first quarter worth $146,037,000. Finally, First Republic Investment Management Inc. grew its stake in shares of Clarivate by 37.3% in the first quarter. First Republic Investment Management Inc. now owns 127,112 shares of the company’s stock worth $2,130,000 after acquiring an additional 34,501 shares during the last quarter. 90.87% of the stock is currently owned by institutional investors.

About Clarivate (Get Rating)

Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

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