Clarivate (NYSE:CLVT) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Clarivate (NYSE:CLVT) from a buy rating to a hold rating in a report published on Saturday.

A number of other equities analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 22nd. Wolfe Research assumed coverage on Clarivate in a report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Morgan Stanley reissued an “underweight” rating and issued a $3.00 target price (down previously from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Finally, The Goldman Sachs Group set a $4.20 target price on Clarivate in a research note on Thursday, October 30th. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $4.43.

Clarivate Stock Down 3.0%

Shares of Clarivate stock opened at $3.40 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. Clarivate has a 12-month low of $3.04 and a 12-month high of $5.74. The company has a market cap of $2.25 billion, a P/E ratio of -5.96 and a beta of 1.51. The company’s fifty day simple moving average is $3.53 and its two-hundred day simple moving average is $3.92.

Insider Activity at Clarivate

In related news, Director Andrew Miles Snyder acquired 1,460,000 shares of the stock in a transaction on Friday, October 31st. The stock was acquired at an average price of $3.33 per share, for a total transaction of $4,861,800.00. Following the completion of the purchase, the director owned 2,247,510 shares of the company’s stock, valued at $7,484,208.30. This represents a 185.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth L. Cornick bought 500,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $3.38 per share, for a total transaction of $1,690,000.00. Following the completion of the acquisition, the director directly owned 775,000 shares of the company’s stock, valued at approximately $2,619,500. This represents a 181.82% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 2,285,000 shares of company stock valued at $7,688,800 in the last 90 days. Corporate insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. IFP Advisors Inc grew its position in Clarivate by 8.1% during the third quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock valued at $170,000 after buying an additional 3,117 shares during the period. Swiss Life Asset Management Ltd purchased a new position in shares of Clarivate during the 3rd quarter worth $50,000. CIBC Private Wealth Group LLC boosted its stake in shares of Clarivate by 16.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 286,507 shares of the company’s stock worth $1,097,000 after acquiring an additional 40,404 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Clarivate during the 3rd quarter valued at $1,097,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Clarivate in the 3rd quarter worth $584,000. Hedge funds and other 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.