Clarivate (NYSE:CLVT) Upgraded by Wall Street Zen to Buy Rating

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

CLVT has been the subject of several other reports. Morgan Stanley reissued an “underweight” rating and set a $3.00 price objective (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. Finally, The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and cut their price target for the company from $4.20 to $3.60 in a report on Thursday, January 8th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $4.28.

Clarivate Stock Up 3.8%

CLVT opened at $2.16 on Friday. 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 $1.43 billion, a PE ratio of -3.79 and a beta of 1.51. The stock’s fifty day moving average is $3.21 and its 200-day moving average is $3.65. Clarivate has a one year low of $1.94 and a one year high of $5.16.

Insider Transactions at Clarivate

In related news, Director Kenneth L. Cornick purchased 100,000 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $3.45 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the insider owned 848,811 shares of the company’s stock, valued at $3,174,553.14. The trade was a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 23.18% of the company’s stock.

Hedge Funds Weigh In On Clarivate

Several large investors have recently bought and sold shares of CLVT. Bank of New York Mellon Corp lifted its position in shares of Clarivate by 23.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock worth $12,883,000 after buying an additional 567,003 shares during the period. AGF Management Ltd. increased its holdings in Clarivate by 20.4% during the 2nd quarter. AGF Management Ltd. now owns 731,048 shares of the company’s stock valued at $3,144,000 after purchasing an additional 123,819 shares in the last quarter. Edmond DE Rothschild Holding S.A. raised its position in Clarivate by 19.5% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock valued at $39,958,000 after purchasing an additional 1,514,000 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Clarivate by 24.6% during the second quarter. American Century Companies Inc. now owns 8,267,491 shares of the company’s stock worth $35,550,000 after purchasing an additional 1,633,837 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Clarivate by 310.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,256 shares of the company’s stock valued at $1,274,000 after buying an additional 223,995 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.