Clarivate (NYSE:CLVT) Stock Rating Lowered by Wall Street Zen

Clarivate (NYSE:CLVT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research began coverage on Clarivate in a research note on Wednesday, September 3rd. They set a “peer perform” rating for the company. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price objective (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. The Goldman Sachs Group set a $4.20 price objective on shares of Clarivate in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 22nd. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $4.43.

Clarivate Stock Performance

Shares of CLVT stock opened at $3.52 on Friday. The stock’s 50-day moving average price is $3.53 and its 200 day moving average price is $3.92. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $2.32 billion, a PE ratio of -6.17 and a beta of 1.51. Clarivate has a 52-week low of $3.04 and a 52-week high of $5.74.

Insider Buying and Selling

In other Clarivate news, Director Andrew Miles Snyder acquired 1,460,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $3.33 per share, with a total value of $4,861,800.00. Following the purchase, the director directly owned 2,247,510 shares in the company, valued at approximately $7,484,208.30. This trade represents a 185.39% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth L. Cornick purchased 100,000 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $3.45 per share, with a total value of $345,000.00. Following the completion of the acquisition, the director owned 1,100,000 shares of the company’s stock, valued at approximately $3,795,000. The trade was a 10.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,285,000 shares of company stock worth $7,688,800 in the last quarter. Company insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Several hedge funds have recently made changes to their positions in CLVT. Dimensional Fund Advisors LP raised its stake in Clarivate by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock worth $83,373,000 after purchasing an additional 696,903 shares during the period. HG Vora Capital Management LLC purchased a new stake in shares of Clarivate during the 1st quarter valued at $47,160,000. American Century Companies Inc. increased its holdings in shares of Clarivate by 20.6% during the 3rd 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 during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in 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 period. Finally, Vanguard Group Inc. raised its stake in shares of Clarivate by 9.3% in the 3rd quarter. Vanguard Group Inc. now owns 8,922,585 shares of the company’s stock valued at $34,173,000 after acquiring an additional 756,722 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.