Clarivate (NYSE:CLVT) Trading 3.7% Higher – Should You Buy?

Clarivate PLC (NYSE:CLVT) shares were up 3.7% during trading on Friday . The company traded as high as $3.53 and last traded at $3.5350. Approximately 1,957,545 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 5,202,173 shares. The stock had previously closed at $3.41.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLVT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price (down previously from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. The Goldman Sachs Group set a $4.20 price target on shares of Clarivate in a research note on Thursday, October 30th. Wolfe Research began coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Finally, Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Clarivate has an average rating of “Reduce” and an average target price of $4.43.

Clarivate Stock Up 3.1%

The company has a market capitalization of $2.32 billion, a PE ratio of -6.17 and a beta of 1.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a 50 day simple moving average of $3.53 and a two-hundred day simple moving average of $3.94.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Kenneth L. Cornick bought 500,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $3.38 per share, with a total value of $1,690,000.00. Following the purchase, the director owned 775,000 shares in the company, valued at approximately $2,619,500. This represents a 181.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Bar Veinstein sold 309,902 shares of the business’s stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have bought 2,285,000 shares of company stock valued at $7,688,800. 23.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clarivate

Hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its stake in shares of Clarivate by 102.0% in the 1st quarter. Invesco Ltd. now owns 788,362 shares of the company’s stock valued at $3,098,000 after purchasing an additional 398,176 shares in the last quarter. HighTower Advisors LLC increased its holdings in Clarivate by 25.3% in the first quarter. HighTower Advisors LLC now owns 224,740 shares of the company’s stock valued at $883,000 after buying an additional 45,338 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Clarivate during the first quarter valued at approximately $435,000. Timucuan Asset Management Inc. FL bought a new position in Clarivate during the 1st quarter worth approximately $8,859,000. Finally, State of Wyoming grew its position in shares of Clarivate by 32.6% in the 1st quarter. State of Wyoming now owns 56,796 shares of the company’s stock worth $223,000 after acquiring an additional 13,948 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

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.