Wall Street Zen Upgrades Clarivate (NYSE:CLVT) to “Buy”

Clarivate (NYSE:CLVT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other brokerages also recently commented on CLVT. The Goldman Sachs Group set a $4.20 price objective on Clarivate in a research report on Thursday, October 30th. Wolfe Research began coverage on Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Monday. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Clarivate presently has a consensus rating of “Reduce” and a consensus target price of $4.90.

Clarivate Stock Down 3.5%

Shares of CLVT opened at $3.63 on Friday. The business has a fifty day moving average of $3.60 and a 200 day moving average of $4.01. The company has a market cap of $2.40 billion, a PE ratio of -6.37 and a beta of 1.51. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. Clarivate has a 52-week low of $3.04 and a 52-week high of $5.86.

Insider Buying and Selling at Clarivate

In other news, Director Andrew Miles Snyder purchased 1,460,000 shares of the stock in a transaction dated Friday, October 31st. The shares were acquired at an average cost of $3.33 per share, for a total transaction of $4,861,800.00. Following the acquisition, the director owned 2,247,510 shares of the company’s stock, valued at approximately $7,484,208.30. This represents a 185.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 309,902 shares of Clarivate stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the completion of the transaction, the insider directly owned 848,811 shares in the company, valued at approximately $3,174,553.14. The trade was a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 2,285,000 shares of company stock valued at $7,688,800. 23.18% of the stock is currently owned by insiders.

Institutional Trading of Clarivate

A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its position in Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after buying an additional 7,157 shares in the last quarter. Essex Financial Services Inc. purchased a new stake in shares of Clarivate during the third quarter worth about $41,000. PharVision Advisers LLC acquired a new position in shares of Clarivate during the third quarter valued at about $45,000. Ground Swell Capital LLC purchased a new position in shares of Clarivate in the 3rd quarter valued at approximately $47,000. Finally, 111 Capital purchased a new stake in Clarivate during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.