Clarivate PLC (NYSE:CLVT) Given Average Rating of “Reduce” by Brokerages

Clarivate PLC (NYSE:CLVT) has been assigned an average rating of “Reduce” from the six research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.2750.

Several equities analysts have commented on CLVT shares. Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Morgan Stanley restated an “underweight” rating and set a $3.00 price target (down previously from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $4.20 to $3.60 in a research note on Thursday.

Clarivate Price Performance

CLVT opened at $3.47 on Friday. The stock’s 50-day moving average price is $3.49 and its 200 day moving average price is $3.87. Clarivate has a 12-month low of $3.04 and a 12-month high of $5.74. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -6.08 and a beta of 1.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90.

Insider Activity at Clarivate

In related news, Director Kenneth L. Cornick purchased 500,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average cost of $3.38 per share, for a total transaction of $1,690,000.00. Following the purchase, the director directly owned 775,000 shares of the company’s stock, valued at $2,619,500. The trade was a 181.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 309,902 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $3.74, for a total value of $1,159,033.48. Following the completion of the sale, the insider directly owned 848,811 shares of the company’s stock, valued at $3,174,553.14. The trade was a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired 2,285,000 shares of company stock valued at $7,688,800 over the last quarter. 23.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently modified their holdings of CLVT. SG Americas Securities LLC lifted its position in Clarivate by 21.3% during the 4th quarter. SG Americas Securities LLC now owns 204,816 shares of the company’s stock worth $684,000 after acquiring an additional 35,939 shares during the period. Wedmont Private Capital raised its stake in shares of Clarivate by 52.5% during the fourth quarter. Wedmont Private Capital now owns 16,978 shares of the company’s stock worth $57,000 after purchasing an additional 5,844 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Clarivate by 8.1% during the third quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock worth $170,000 after purchasing an additional 3,117 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new stake in shares of Clarivate during the third quarter worth $50,000. Finally, CIBC Private Wealth Group LLC grew its position in Clarivate by 16.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 286,507 shares of the company’s stock valued at $1,097,000 after buying an additional 40,404 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.