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

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

Analysts Set New Price Targets

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

Clarivate Price Performance

The stock has a 50 day moving average of $3.43 and a two-hundred day moving average of $3.79. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market cap of $1.92 billion, a PE ratio of -5.11 and a beta of 1.51.

Insiders Place Their Bets

In other news, insider Bar Veinstein sold 309,902 shares of the business’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 sale, the insider owned 848,811 shares in the company, valued at approximately $3,174,553.14. The trade was a 26.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth L. Cornick bought 500,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average price of $3.38 per share, with a total value of $1,690,000.00. Following the transaction, the director directly owned 775,000 shares in the company, valued at $2,619,500. This represents a 181.82% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 2,285,000 shares of company stock valued at $7,688,800 in the last three months. Company insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after purchasing an additional 7,157 shares in the last quarter. Essex Financial Services Inc. bought a new stake in shares of Clarivate during the third quarter valued at approximately $41,000. PharVision Advisers LLC bought a new position in Clarivate in the 3rd quarter worth approximately $45,000. Ground Swell Capital LLC acquired a new position in Clarivate during the 3rd quarter worth $47,000. Finally, 111 Capital bought a new position in Clarivate in the 3rd quarter valued at $48,000. 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.