Clarivate PLC (NYSE:CLVT) Given Consensus Rating of “Reduce” by Analysts

Clarivate PLC (NYSE:CLVT) has received an average recommendation of “Reduce” from the six research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $4.2750.

Several brokerages have issued reports on CLVT. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. The Goldman Sachs Group downgraded shares of Clarivate from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $4.20 to $3.60 in a report on Thursday, January 8th. Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th.

Clarivate Price Performance

Clarivate stock opened at $2.13 on Thursday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -3.74 and a beta of 1.51. 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 business has a 50-day simple moving average of $3.18 and a 200 day simple moving average of $3.63. Clarivate has a 52 week low of $1.94 and a 52 week high of $5.16.

Insiders Place Their Bets

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $3.74, for a total value 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. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 23.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Clarivate

A number of hedge funds have recently made changes to their positions in CLVT. Geode Capital Management LLC boosted its stake in shares of Clarivate by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 7,048,518 shares of the company’s stock valued at $23,549,000 after purchasing an additional 78,367 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Clarivate in the fourth quarter worth $71,000. LSV Asset Management boosted its position in Clarivate by 25.6% during the fourth quarter. LSV Asset Management now owns 2,647,900 shares of the company’s stock valued at $8,844,000 after buying an additional 540,400 shares during the period. North Dakota State Investment Board purchased a new stake in Clarivate during the fourth quarter valued at about $42,000. Finally, Beese Fulmer Investment Management Inc. purchased a new position in shares of Clarivate in the fourth quarter worth about $44,000. 85.72% of the stock is currently owned by institutional investors.

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.