Clarivate (NYSE:CLVT) Sets New 1-Year Low – Should You Sell?

Clarivate PLC (NYSE:CLVT)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $1.90 and last traded at $1.8950, with a volume of 955621 shares traded. The stock had previously closed at $2.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CLVT. Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 price target (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Finally, The Goldman Sachs Group lowered Clarivate from a “buy” rating to a “neutral” rating and dropped their price objective 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 two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $4.28.

Clarivate Stock Performance

The business has a fifty day moving average of $3.15 and a 200-day moving average of $3.61. The company has a market cap of $1.21 billion, a PE ratio of -3.22 and a beta of 1.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90.

Insider Activity

In related 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 transaction of $1,159,033.48. Following the completion of the transaction, the insider owned 848,811 shares in the company, valued at $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its position in shares of Clarivate by 11.2% in the 2nd quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after purchasing an additional 2,617 shares during the period. California State Teachers Retirement System increased its position in shares of Clarivate by 0.9% during the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after buying an additional 2,788 shares during the period. Envestnet Asset Management Inc. raised its stake in Clarivate by 3.9% in the third quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock worth $296,000 after buying an additional 2,884 shares in the last quarter. IFP Advisors Inc raised its stake in Clarivate by 8.1% in the third quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock worth $170,000 after buying an additional 3,117 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Clarivate by 4.3% in the second quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after buying an additional 4,792 shares during the period. 85.72% of the stock is owned by hedge funds and other institutional investors.

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.