Clarivate (NYSE:CLVT) Reaches New 1-Year Low – Here’s Why

Clarivate PLC (NYSE:CLVT)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.74 and last traded at $1.8150, with a volume of 4036527 shares traded. The stock had previously closed at $1.81.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. The Goldman Sachs Group downgraded shares of Clarivate from a “buy” rating to a “neutral” rating and decreased their target price for the company from $4.20 to $3.60 in a research report on Thursday, January 8th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price target (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Clarivate currently has a consensus rating of “Reduce” and an average price target of $4.28.

Clarivate Trading Down 1.1%

The company has a market cap of $1.18 billion, a P/E ratio of -3.14 and a beta of 1.51. The business’s 50-day moving average price is $2.99 and its 200 day moving average price is $3.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87.

Insiders Place Their Bets

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the company’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 sale, the insider owned 848,811 shares in the company, valued at $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clarivate

A number of large investors have recently added to or reduced their stakes in the business. Abel Hall LLC acquired a new stake in Clarivate during the 4th quarter valued at $161,000. Atairos Partners GP Inc. lifted its stake in shares of Clarivate by 195.3% during the 4th quarter. Atairos Partners GP Inc. now owns 10,232,667 shares of the company’s stock worth $34,177,000 after buying an additional 6,767,667 shares during the last quarter. TFJ Management LLC acquired a new stake in shares of Clarivate during the 4th quarter worth about $1,955,000. PenderFund Capital Management Ltd. boosted its holdings in shares of Clarivate by 294.1% during the 4th quarter. PenderFund Capital Management Ltd. now owns 521,000 shares of the company’s stock worth $1,740,000 after buying an additional 388,800 shares during the period. Finally, RPO LLC bought a new position in Clarivate in the 4th quarter valued at about $64,000. Institutional investors own 85.72% of the company’s stock.

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.