Analysts Set Clarivate PLC (NYSE:CLVT) Price Target at $4.28

Shares of Clarivate PLC (NYSE:CLVT) have been assigned a consensus rating of “Reduce” from the six analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4.2750.

CLVT has been the topic of several research reports. Wall Street Zen lowered Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. Morgan Stanley restated an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Finally, The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.20 to $3.60 in a research note on Thursday, January 8th.

Insiders Place Their Bets

In other news, Director Andrew Miles Snyder purchased 1,460,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $3.33 per share, with a total value of $4,861,800.00. Following the acquisition, the director directly owned 2,247,510 shares of the company’s stock, valued at approximately $7,484,208.30. This represents a 185.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth L. Cornick acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $3.45 per share, for a total transaction of $345,000.00. Following the purchase, the director directly owned 1,100,000 shares in the company, valued at $3,795,000. This trade represents a 10.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 2,285,000 shares of company stock worth $7,688,800. Company insiders own 23.18% of the company’s stock.

Hedge Funds Weigh In On Clarivate

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in Clarivate by 23.3% during the second quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock worth $12,883,000 after purchasing an additional 567,003 shares during the last quarter. AGF Management Ltd. increased its stake in Clarivate by 20.4% in the 2nd quarter. AGF Management Ltd. now owns 731,048 shares of the company’s stock valued at $3,144,000 after buying an additional 123,819 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Clarivate by 19.5% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock worth $39,958,000 after buying an additional 1,514,000 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Clarivate by 24.6% during the 2nd quarter. American Century Companies Inc. now owns 8,267,491 shares of the company’s stock worth $35,550,000 after buying an additional 1,633,837 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Clarivate by 310.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,256 shares of the company’s stock valued at $1,274,000 after acquiring an additional 223,995 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Trading Down 5.8%

Shares of NYSE CLVT opened at $3.17 on Friday. Clarivate has a 1-year low of $3.04 and a 1-year high of $5.74. The company has a market cap of $2.09 billion, a PE ratio of -5.55 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. The company has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.85.

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.