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

Clarivate (NYSE:CLVT) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other analysts have also recently commented on the stock. Wolfe Research initiated coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They set a “peer perform” rating for the company. The Goldman Sachs Group set a $4.20 target price on shares of Clarivate in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $4.90.

Clarivate Trading Down 3.5%

Shares of NYSE:CLVT opened at $3.63 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. Clarivate has a 52-week low of $3.04 and a 52-week high of $5.86. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of -6.37 and a beta of 1.51. The business has a 50-day moving average price of $3.60 and a 200-day moving average price of $4.01.

Insider Activity

In other Clarivate news, Director Andrew Miles Snyder bought 1,460,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $3.33 per share, for a total transaction of $4,861,800.00. Following the transaction, the director directly owned 2,247,510 shares of the company’s stock, valued at approximately $7,484,208.30. This represents a 185.39% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth L. Cornick purchased 500,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was bought at an average cost of $3.38 per share, with a total value of $1,690,000.00. Following the acquisition, the director owned 775,000 shares in the company, valued at $2,619,500. This represents a 181.82% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 2,285,000 shares of company stock worth $7,688,800 in the last quarter. Corporate insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLVT. Clarkston Capital Partners LLC increased its stake 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 buying an additional 3,794,083 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Clarivate by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock worth $83,373,000 after acquiring an additional 696,903 shares during the last quarter. HG Vora Capital Management LLC purchased a new stake in shares of Clarivate during the first quarter worth approximately $47,160,000. American Century Companies Inc. raised its stake in Clarivate by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock valued at $38,200,000 after purchasing an additional 1,706,306 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. raised its stake 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. 85.72% of the stock is 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.