Clarivate PLC (NYSE:CLVT) Given Consensus Rating of “Reduce” by Analysts

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

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

Insider Activity

In related news, insider Bar Veinstein sold 309,902 shares of the business’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 value of $1,159,033.48. Following the completion of the sale, the insider owned 848,811 shares in the company, valued at approximately $3,174,553.14. The trade was a 26.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth L. Cornick bought 100,000 shares of the stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $3.45 per share, with a total value of $345,000.00. Following the completion of the acquisition, the director directly owned 1,100,000 shares in the company, valued at approximately $3,795,000. This trade represents a 10.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 2,285,000 shares of company stock valued at $7,688,800. 23.18% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CLVT. Cetera Investment Advisers increased its stake in shares of Clarivate by 11.2% during the second quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock valued at $112,000 after buying an additional 2,617 shares during the period. California State Teachers Retirement System grew its holdings in Clarivate by 0.9% during the 2nd quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock worth $1,304,000 after acquiring an additional 2,788 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Clarivate by 3.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock worth $296,000 after acquiring an additional 2,884 shares in the last quarter. IFP Advisors Inc increased its position in Clarivate by 8.1% during the 3rd quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock valued at $170,000 after purchasing an additional 3,117 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of Clarivate by 4.3% in the 2nd quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock valued at $500,000 after purchasing an additional 4,792 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Trading Up 1.0%

CLVT stock opened at $3.58 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. Clarivate has a 1-year low of $3.04 and a 1-year high of $5.74. The business has a 50 day simple moving average of $3.56 and a two-hundred day simple moving average of $3.97. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -6.27 and a beta of 1.51.

About Clarivate

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.