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

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

Several other brokerages have also issued reports on CLVT. The Goldman Sachs Group set a $4.20 target price on Clarivate in a research report on Thursday, October 30th. Wolfe Research started coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 1st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Clarivate has a consensus rating of “Reduce” and an average target price of $4.90.

Clarivate Stock Performance

CLVT stock opened at $3.63 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.40 billion, a PE ratio of -6.37 and a beta of 1.51. The business has a 50 day moving average of $3.60 and a 200-day moving average of $4.01. Clarivate has a 12-month low of $3.04 and a 12-month high of $5.86.

Insider Buying and Selling

In other news, insider Bar Veinstein sold 309,902 shares of Clarivate 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 transaction, the insider owned 848,811 shares in the company, valued at $3,174,553.14. This trade represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Miles Snyder purchased 1,460,000 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $3.33 per share, for a total transaction of $4,861,800.00. Following the transaction, the director owned 2,247,510 shares of the company’s stock, valued at approximately $7,484,208.30. This trade represents a 185.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 2,285,000 shares of company stock valued at $7,688,800. 23.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Clarivate

Large investors have recently modified their holdings of the company. Clarkston Capital Partners LLC grew its stake in Clarivate by 5.4% during the first quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock valued at $292,895,000 after acquiring an additional 3,794,083 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Clarivate by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock valued at $83,373,000 after purchasing an additional 696,903 shares during the period. HG Vora Capital Management LLC purchased a new position in shares of Clarivate during the 1st quarter valued at $47,160,000. American Century Companies Inc. increased its holdings in shares of Clarivate by 20.6% in the third quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock worth $38,200,000 after purchasing an additional 1,706,306 shares during the period. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Clarivate by 19.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock worth $39,958,000 after purchasing an additional 1,514,000 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Clarivate Company Profile

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.