Clarivate (NYSE:CLVT) Lowered to “Hold” Rating by Wall Street Zen

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

A number of other analysts have also recently issued reports on CLVT. Barclays dropped their price objective on Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and decreased their price target for the company 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 report on Monday, December 29th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada lowered their target price on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Clarivate has a consensus rating of “Reduce” and an average price target of $3.30.

Clarivate Trading Down 4.4%

Shares of CLVT stock opened at $2.30 on Friday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -7.65 and a beta of 1.51. The company’s fifty day simple moving average is $2.72 and its two-hundred day simple moving average is $3.44. Clarivate has a 1 year low of $1.66 and a 1 year high of $4.77. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.87.

Insider Buying and Selling at Clarivate

In related news, insider Bar Veinstein sold 309,902 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $3.74, for a total value of $1,159,033.48. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 23.18% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Several hedge funds have recently added to or reduced their stakes in CLVT. M&T Bank Corp bought a new position in shares of Clarivate during the 4th quarter valued at about $34,000. Essex Financial Services Inc. bought a new stake in Clarivate in the 3rd quarter worth approximately $41,000. Jump Financial LLC purchased a new stake in Clarivate in the fourth quarter worth approximately $41,000. North Dakota State Investment Board bought a new position in Clarivate during the fourth quarter valued at approximately $42,000. Finally, Beese Fulmer Investment Management Inc. purchased a new position in shares of Clarivate during the fourth quarter worth approximately $44,000. 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.