Clarivate (NYSE:CLVT) Shares Down 3.7% – Time to Sell?

Clarivate PLC (NYSE:CLVT)’s share price traded down 3.7% during mid-day trading on Monday . The stock traded as low as $2.47 and last traded at $2.4750. 738,279 shares were traded during mid-day trading, a decline of 90% from the average session volume of 7,689,674 shares. The stock had previously closed at $2.57.

Analyst Ratings Changes

CLVT has been the topic of several recent research reports. Morgan Stanley restated an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Royal Bank Of Canada lowered their price target on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday, February 25th. Barclays cut their price objective on Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Finally, Wall Street Zen lowered Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $3.22.

Clarivate Trading Up 1.0%

The business’s 50-day simple moving average is $2.53 and its two-hundred day simple moving average is $3.27. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $1.64 billion, a PE ratio of -8.55 and a beta of 1.55.

Institutional Investors Weigh In On Clarivate

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in Clarivate by 11.2% during the 2nd quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock valued at $112,000 after acquiring an additional 2,617 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Clarivate by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after purchasing an additional 2,788 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Clarivate by 3.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock valued at $296,000 after purchasing an additional 2,884 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Clarivate by 8.1% during the third quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock worth $170,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in Clarivate by 4.3% in the second quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after purchasing an additional 4,792 shares in the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

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.