Clarivate (NYSE:CLVT) Downgraded by Wall Street Zen to Hold

Clarivate (NYSE:CLVT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also issued research reports about the stock. Barclays lowered their target price on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating for the company in a report on Wednesday. The Goldman Sachs Group downgraded shares of Clarivate from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $4.20 to $3.60 in a research note on Thursday, January 8th. Morgan Stanley restated an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Royal Bank Of Canada reduced their price target on Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Wednesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $3.30.

Clarivate Stock Performance

NYSE CLVT opened at $2.30 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.87. Clarivate has a 1-year low of $1.66 and a 1-year high of $4.77. The business has a 50 day simple moving average of $2.72 and a two-hundred day simple moving average of $3.44. The stock has a market capitalization of $1.47 billion, a PE ratio of -7.65 and a beta of 1.51.

Insider Buying and Selling at Clarivate

In related news, insider Bar Veinstein sold 309,902 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was 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 owned 848,811 shares in the company, valued at approximately $3,174,553.14. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On Clarivate

A number of institutional investors and hedge funds have recently bought and sold shares of the company. M&T Bank Corp purchased a new position in shares of Clarivate during the fourth quarter valued at $34,000. Essex Financial Services Inc. bought a new position in Clarivate during the 3rd quarter worth about $41,000. Jump Financial LLC purchased a new position in Clarivate during the 4th quarter valued at about $41,000. North Dakota State Investment Board bought a new stake in shares of Clarivate in the 4th quarter valued at about $42,000. Finally, Beese Fulmer Investment Management Inc. purchased a new stake in shares of Clarivate in the 4th quarter worth approximately $44,000. 85.72% of the stock is owned by institutional investors.

Clarivate Company Profile

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.