Analysts Set Clarivate PLC (NYSE:CLVT) PT at $3.30

Clarivate PLC (NYSE:CLVT) has received an average rating of “Reduce” from the eight brokerages that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $3.2167.

CLVT has been the topic of several analyst reports. Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Citigroup decreased their price target on Clarivate from $4.25 to $2.80 and set a “neutral” rating for the company in a report on Wednesday. Barclays dropped their price objective on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group cut shares of Clarivate from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $4.20 to $3.60 in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th.

Hedge Funds Weigh In On Clarivate

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC increased its position in shares of Clarivate by 204.3% during the fourth quarter. Virtu Financial LLC now owns 49,960 shares of the company’s stock worth $167,000 after acquiring an additional 33,544 shares during the last quarter. Invesco Ltd. boosted its holdings in Clarivate by 38.4% in the fourth quarter. Invesco Ltd. now owns 1,327,520 shares of the company’s stock valued at $4,434,000 after purchasing an additional 368,531 shares during the last quarter. Vident Advisory LLC grew its stake in Clarivate by 3.3% during the 4th quarter. Vident Advisory LLC now owns 185,821 shares of the company’s stock valued at $621,000 after purchasing an additional 5,980 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in Clarivate by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 413,728 shares of the company’s stock valued at $1,382,000 after purchasing an additional 5,830 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Clarivate by 587.2% during the 4th quarter. Empowered Funds LLC now owns 388,670 shares of the company’s stock worth $1,298,000 after purchasing an additional 332,110 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Trading Up 5.6%

NYSE:CLVT opened at $2.74 on Monday. The business’s 50-day moving average is $2.64 and its two-hundred day moving average is $3.38. The firm has a market capitalization of $1.75 billion, a PE ratio of -9.12 and a beta of 1.55. Clarivate has a 12 month low of $1.66 and a 12 month high of $4.77. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.84.

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.