Clarivate (NYSE:CLVT) Stock Rating Upgraded by Wall Street Zen

Clarivate (NYSE:CLVT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

CLVT has been the subject of a number of other research reports. The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $4.20 to $3.60 in a report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $3.00 target price (down previously from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $4.28.

Clarivate Stock Performance

Shares of CLVT opened at $2.16 on Friday. The firm has a market cap of $1.43 billion, a P/E ratio of -3.79 and a beta of 1.51. Clarivate has a twelve month low of $1.94 and a twelve month high of $5.16. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s 50 day moving average price is $3.21 and its two-hundred day moving average price is $3.66.

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the sale, the insider directly owned 848,811 shares of the company’s stock, valued at approximately $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth L. Cornick purchased 100,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $3.45 per share, with a total value of $345,000.00. Following the purchase, the director owned 1,100,000 shares of the company’s stock, valued at approximately $3,795,000. The trade was a 10.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Several hedge funds have recently bought and sold shares of CLVT. Norges Bank acquired a new position in Clarivate during the second quarter worth approximately $19,273,000. Balyasny Asset Management L.P. boosted its stake in shares of Clarivate by 827.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,882,593 shares of the company’s stock worth $18,700,000 after acquiring an additional 4,356,232 shares during the period. Bank of America Corp DE increased its holdings in shares of Clarivate by 506.9% during the 2nd quarter. Bank of America Corp DE now owns 2,870,668 shares of the company’s stock worth $12,344,000 after acquiring an additional 2,397,670 shares during the last quarter. Man Group plc raised its stake in Clarivate by 228.1% in the 2nd quarter. Man Group plc now owns 3,091,139 shares of the company’s stock valued at $13,292,000 after acquiring an additional 2,148,943 shares during the period. Finally, LSV Asset Management acquired a new stake in Clarivate during the 3rd quarter valued at $8,072,000. 85.72% of the stock is currently 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.