Royal Bank Of Canada Has Lowered Expectations for Clarivate (NYSE:CLVT) Stock Price

Clarivate (NYSE:CLVT) had its price objective lowered by Royal Bank Of Canada from $5.00 to $3.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 25.00% from the stock’s current price.

Other research analysts have also issued reports about the stock. Morgan Stanley reissued an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Wall Street Zen upgraded Clarivate from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Finally, The Goldman Sachs Group downgraded 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, January 8th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Clarivate currently has an average rating of “Reduce” and an average target price of $3.30.

Clarivate Stock Performance

CLVT stock opened at $2.40 on Wednesday. Clarivate has a 1 year low of $1.66 and a 1 year high of $4.77. The stock 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 quick ratio of 0.87 and a current ratio of 0.84. The stock’s fifty day moving average is $2.75 and its two-hundred day moving average is $3.45.

Insider Transactions at Clarivate

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 848,811 shares of the company’s stock, valued at approximately $3,174,553.14. This trade represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

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