Clarivate PLC (NYSE:CLVT) Receives Consensus Recommendation of “Reduce” from Analysts

Clarivate PLC (NYSE:CLVT) has earned an average recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.2750.

Several equities analysts have weighed in on CLVT shares. Morgan Stanley reissued an “underweight” rating and set a $3.00 price target (down previously from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. The Goldman Sachs Group downgraded shares of Clarivate from a “buy” rating to a “neutral” rating and cut their target price for the company from $4.20 to $3.60 in a research note on Thursday. Finally, Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, December 27th.

Insider Activity at Clarivate

In related news, insider Bar Veinstein sold 309,902 shares of the stock in a transaction dated 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 transaction, the insider directly owned 848,811 shares in the company, valued at approximately $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Miles Snyder acquired 1,460,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $3.33 per share, with a total value of $4,861,800.00. Following the purchase, the director owned 2,247,510 shares in the company, valued at approximately $7,484,208.30. The trade was a 185.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 2,285,000 shares of company stock worth $7,688,800. 23.18% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clarivate

A number of hedge funds have recently made changes to their positions in CLVT. Parallel Advisors LLC increased its holdings in shares of Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock worth $35,000 after buying an additional 7,157 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in Clarivate during the third quarter valued at about $41,000. PharVision Advisers LLC purchased a new stake in Clarivate during the third quarter valued at about $45,000. Ground Swell Capital LLC acquired a new stake in Clarivate during the third quarter worth about $47,000. Finally, 111 Capital purchased a new position in shares of Clarivate in the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Down 0.1%

CLVT opened at $3.47 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 cap of $2.29 billion, a price-to-earnings ratio of -6.08 and a beta of 1.51. Clarivate has a one year low of $3.04 and a one year high of $5.74. The business’s fifty day moving average is $3.49 and its two-hundred day moving average is $3.87.

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.