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

Shares of Clarivate PLC (NYSE:CLVT) have earned a consensus rating of “Reduce” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.4250.

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group set a $4.20 price target on Clarivate in a research note on Thursday, October 30th. Morgan Stanley reissued an “underweight” rating and set a $3.00 target price (down previously from $5.00) on shares of Clarivate in a research report on Wednesday. Wall Street Zen upgraded shares of Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Wolfe Research initiated coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday.

Clarivate Stock Up 1.0%

Shares of Clarivate stock opened at $3.58 on Wednesday. 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 company has a market cap of $2.36 billion, a P/E ratio of -6.27 and a beta of 1.51. The firm’s 50 day moving average price is $3.56 and its 200-day moving average price is $3.97. Clarivate has a 52-week low of $3.04 and a 52-week high of $5.74.

Insider Buying and Selling

In related news, Director Kenneth L. Cornick acquired 500,000 shares of Clarivate stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $3.38 per share, for a total transaction of $1,690,000.00. Following the purchase, the director owned 775,000 shares of the company’s stock, valued at approximately $2,619,500. This represents a 181.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 309,902 shares of the firm’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 transaction of $1,159,033.48. Following the sale, the insider directly owned 848,811 shares in the company, valued at $3,174,553.14. The trade was a 26.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 2,285,000 shares of company stock valued at $7,688,800 over the last 90 days. Insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in Clarivate by 23.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock worth $12,883,000 after purchasing an additional 567,003 shares in the last quarter. AGF Management Ltd. lifted its holdings in Clarivate by 20.4% in the 2nd quarter. AGF Management Ltd. now owns 731,048 shares of the company’s stock valued at $3,144,000 after purchasing an additional 123,819 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Clarivate by 19.5% during the 2nd 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 last quarter. American Century Companies Inc. grew its holdings in shares of Clarivate by 24.6% during the second quarter. American Century Companies Inc. now owns 8,267,491 shares of the company’s stock worth $35,550,000 after buying an additional 1,633,837 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Clarivate by 310.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,256 shares of the company’s stock worth $1,274,000 after buying an additional 223,995 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.