Barclays Issues Pessimistic Forecast for Clarivate (NYSE:CLVT) Stock Price

Clarivate (NYSE:CLVT) had its price objective decreased by analysts at Barclays from $4.00 to $2.40 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group lowered Clarivate from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $4.20 to $3.60 in a research report on Thursday, January 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Royal Bank Of Canada reduced their target price on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $3.30.

Clarivate Stock Performance

Clarivate stock opened at $2.40 on Wednesday. Clarivate has a 12-month low of $1.66 and a 12-month high of $4.77. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.00 and a beta of 1.51. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.87. The firm’s fifty day moving average price is $2.75 and its 200 day moving average price is $3.45.

Insider Activity at Clarivate

In other news, insider Bar Veinstein sold 309,902 shares of the business’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 directly owned 848,811 shares in the company, valued at approximately $3,174,553.14. The trade was a 26.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 23.18% of the company’s stock.

Hedge Funds Weigh In On Clarivate

A number of hedge funds have recently added to or reduced their stakes in CLVT. Virtu Financial LLC raised its holdings in shares of Clarivate by 204.3% during the fourth quarter. Virtu Financial LLC now owns 49,960 shares of the company’s stock worth $167,000 after purchasing an additional 33,544 shares during the period. Invesco Ltd. boosted its holdings in shares of Clarivate by 38.4% in the 4th quarter. Invesco Ltd. now owns 1,327,520 shares of the company’s stock valued at $4,434,000 after buying an additional 368,531 shares during the period. Vident Advisory LLC grew its position in shares of Clarivate by 3.3% during the 4th quarter. Vident Advisory LLC now owns 185,821 shares of the company’s stock valued at $621,000 after buying an additional 5,980 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in Clarivate by 1.4% during the fourth quarter. SkyView Investment Advisors LLC now owns 413,728 shares of the company’s stock worth $1,382,000 after acquiring an additional 5,830 shares during the period. Finally, Empowered Funds LLC raised its stake in Clarivate by 587.2% during the fourth quarter. Empowered Funds LLC now owns 388,670 shares of the company’s stock worth $1,298,000 after acquiring an additional 332,110 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.