Clarivate (NYSE:CLVT) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Clarivate (NYSE:CLVT) from a hold rating to a buy rating in a research report report published on Saturday morning.

Several other equities research analysts have also commented on CLVT. Wolfe Research initiated coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 1st. Finally, The Goldman Sachs Group set a $4.20 target price on shares of Clarivate in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Clarivate presently has a consensus rating of “Reduce” and a consensus price target of $4.90.

Clarivate Stock Down 3.5%

CLVT opened at $3.63 on Friday. 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 12 month low of $3.04 and a 12 month high of $5.86. The stock has a market capitalization of $2.40 billion, a P/E ratio of -6.37 and a beta of 1.51. The business has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $4.01.

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 on Friday, October 31st. The stock was bought at an average price of $3.38 per share, for a total transaction of $1,690,000.00. Following the completion of the transaction, the director owned 775,000 shares in the company, valued at approximately $2,619,500. The trade was a 181.82% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bar Veinstein sold 309,902 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the completion of the sale, the insider owned 848,811 shares in the company, valued at $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 2,285,000 shares of company stock worth $7,688,800. 23.18% of the stock is owned by corporate insiders.

Institutional Trading of Clarivate

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clarkston Capital Partners LLC increased its position in Clarivate by 5.4% during the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock worth $292,895,000 after purchasing an additional 3,794,083 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Clarivate by 3.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock valued at $83,373,000 after purchasing an additional 696,903 shares in the last quarter. HG Vora Capital Management LLC acquired a new stake in shares of Clarivate during the 1st quarter worth about $47,160,000. American Century Companies Inc. grew its holdings in shares of Clarivate by 20.6% during the third quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock worth $38,200,000 after buying an additional 1,706,306 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Clarivate by 19.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock valued at $39,958,000 after buying an additional 1,514,000 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Company Profile

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.