Clarivate (NYSE:CLVT) Stock Picked Up by Analysts at Morgan Stanley

Research analysts at Morgan Stanley began coverage on shares of Clarivate (NYSE:CLVT) in a research report issued on Friday. The brokerage set an “underweight” rating and a $1.50 price target on the stock. Morgan Stanley‘s price target suggests a potential downside of 11.56% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus dropped their target price on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a report on Monday, September 21st. The Goldman Sachs Group lowered their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Barclays dropped their target price on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Clarivate presently has an average rating of “Reduce” and a consensus price target of $2.77.

Clarivate Stock Down 1.4%

NYSE:CLVT traded down $0.02 during trading hours on Friday, hitting $1.70. 275,489 shares of the company’s stock traded hands, compared to its average volume of 5,975,859. The stock’s fifty day moving average price is $1.83 and its two-hundred day moving average price is $2.24. The firm has a market cap of $1.08 billion, a P/E ratio of -3.28 and a beta of 1.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.85 and a current ratio of 0.85. Clarivate has a twelve month low of $1.42 and a twelve month high of $3.87.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $587.30 million during the quarter, compared to the consensus estimate of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, research analysts expect that Clarivate will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Clarivate

In related news, Director Kenneth L. Cornick bought 250,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $1.85 per share, for a total transaction of $462,500.00. Following the completion of the acquisition, the director owned 2,000,000 shares of the company’s stock, valued at approximately $3,700,000. The trade was a 14.29% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Snyder sold 2,489,618 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1.94, for a total value of $4,829,858.92. Following the transaction, the director directly owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This trade represents a 39.23% decrease in their position. The SEC filing for this sale provides additional information. 22.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clarivate

A number of large investors have recently bought and sold shares of CLVT. Personal CFO Solutions LLC acquired a new stake in Clarivate in the first quarter valued at about $30,000. FreeGulliver LLC bought a new position in shares of Clarivate in the 1st quarter valued at $30,000. Principal Financial Group Inc. bought a new stake in Clarivate during the 1st quarter worth $32,000. Parallel Advisors LLC boosted its stake in shares of Clarivate by 94.2% during the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after purchasing an additional 6,687 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Clarivate in the second quarter valued at approximately $35,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.