Clarivate PLC (NYSE:CLVT) Receives $4.28 Average PT from Analysts

Clarivate PLC (NYSE:CLVT) has been given an average recommendation of “Reduce” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $4.2750.

Several research firms have commented on CLVT. The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $4.20 to $3.60 in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. Wall Street Zen upgraded Clarivate from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Finally, Morgan Stanley reaffirmed 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.

Clarivate Price Performance

CLVT opened at $1.82 on Thursday. Clarivate has a 1 year low of $1.79 and a 1 year high of $5.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.18 and a beta of 1.51. The firm’s fifty day moving average price is $3.11 and its two-hundred day moving average price is $3.60.

Insider Buying and Selling

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Hedge funds have recently modified their holdings of the stock. Great Valley Advisor Group Inc. purchased a new position in Clarivate in the fourth quarter valued at approximately $131,000. Nuveen LLC raised its stake in shares of Clarivate by 2.1% in the fourth quarter. Nuveen LLC now owns 977,269 shares of the company’s stock valued at $3,264,000 after buying an additional 19,735 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Clarivate during the 4th quarter valued at $3,299,000. Empowered Funds LLC grew its stake in shares of Clarivate by 608.5% during the 4th quarter. Empowered Funds LLC now owns 400,701 shares of the company’s stock worth $1,338,000 after acquiring an additional 344,141 shares during the period. Finally, CenterBook Partners LP increased its holdings in Clarivate by 81.8% in the 4th quarter. CenterBook Partners LP now owns 1,369,972 shares of the company’s stock worth $4,576,000 after acquiring an additional 616,490 shares during the last quarter. 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.