Clarivate (NYSE:CLVT) Trading Down 5.3% – Should You Sell?

Shares of Clarivate PLC (NYSE:CLVT) were down 5.3% during mid-day trading on Tuesday . The company traded as low as $3.51 and last traded at $3.5150. Approximately 2,460,379 shares were traded during trading, a decline of 52% from the average daily volume of 5,157,952 shares. The stock had previously closed at $3.71.

Analyst Upgrades and Downgrades

A number of analysts have commented on CLVT shares. Wolfe Research began coverage on Clarivate in a report on Wednesday, September 3rd. They set a “peer perform” rating for the company. The Goldman Sachs Group set a $4.20 price target on Clarivate in a report on Thursday, October 30th. Wall Street Zen upgraded Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 1st. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $4.90.

Clarivate Stock Down 6.9%

The stock has a 50 day moving average price of $3.60 and a 200 day moving average price of $4.00. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $2.29 billion, a P/E ratio of -6.06 and a beta of 1.51.

Insider Buying and Selling at Clarivate

In related news, Director Kenneth L. Cornick bought 500,000 shares of Clarivate stock in a transaction dated Friday, October 31st. The stock was purchased at an average cost of $3.38 per share, with a total value of $1,690,000.00. Following the transaction, the director directly owned 775,000 shares of the company’s stock, valued at approximately $2,619,500. The trade was a 181.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Miles Snyder purchased 1,460,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of $3.33 per share, for a total transaction of $4,861,800.00. Following the acquisition, the director directly owned 2,247,510 shares in the company, valued at $7,484,208.30. This trade represents a 185.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 2,285,000 shares of company stock worth $7,688,800 over the last three months. 23.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLVT. Vanguard Group Inc. raised its stake in Clarivate by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 8,969,796 shares of the company’s stock valued at $35,251,000 after acquiring an additional 218,938 shares during the period. Wolverine Asset Management LLC increased its stake in shares of Clarivate by 30.5% in the first quarter. Wolverine Asset Management LLC now owns 138,900 shares of the company’s stock worth $546,000 after purchasing an additional 32,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Clarivate in the first quarter valued at approximately $284,000. Invesco Ltd. boosted its holdings in Clarivate by 102.0% in the 1st quarter. Invesco Ltd. now owns 788,362 shares of the company’s stock worth $3,098,000 after buying an additional 398,176 shares during the period. Finally, Aigen Investment Management LP purchased a new position in Clarivate in the 1st quarter valued at approximately $149,000. Institutional investors own 85.72% of the company’s stock.

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.