Clarivate (NYSE:CLVT) Reaches New 52-Week Low – Here’s Why

Clarivate PLC (NYSE:CLVT)’s stock price hit a new 52-week low on Tuesday . The stock traded as low as $3.03 and last traded at $3.0350, with a volume of 238832 shares. The stock had previously closed at $3.17.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. The Goldman Sachs Group downgraded shares of Clarivate from a “buy” rating to a “neutral” rating and cut their price objective for the company from $4.20 to $3.60 in a research report on Thursday, January 8th. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 target price (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $4.28.

Clarivate Trading Down 6.2%

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 stock has a fifty day simple moving average of $3.46 and a 200 day simple moving average of $3.82. The firm has a market capitalization of $1.97 billion, a P/E ratio of -5.22 and a beta of 1.51.

Insiders Place Their Bets

In related news, Director Andrew Miles Snyder bought 1,460,000 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $3.33 per share, with a total value of $4,861,800.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth L. Cornick bought 500,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $3.38 per share, with a total value of $1,690,000.00. Following the completion of the purchase, the director directly owned 775,000 shares of the company’s stock, valued at $2,619,500. This represents a 181.82% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 2,285,000 shares of company stock worth $7,688,800 in the last three months. 23.18% of the stock is owned by company insiders.

Institutional Trading of Clarivate

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in shares of Clarivate by 21.3% during the 4th quarter. SG Americas Securities LLC now owns 204,816 shares of the company’s stock valued at $684,000 after acquiring an additional 35,939 shares during the last quarter. Wedmont Private Capital lifted its position in Clarivate by 52.5% during the fourth quarter. Wedmont Private Capital now owns 16,978 shares of the company’s stock valued at $57,000 after purchasing an additional 5,844 shares during the last quarter. IFP Advisors Inc lifted 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 purchasing an additional 3,117 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Clarivate in the 3rd quarter worth $50,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Clarivate by 16.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 286,507 shares of the company’s stock worth $1,097,000 after buying an additional 40,404 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

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.