Clarivate (NYSE:CLVT) Stock Rating Upgraded by Wall Street Zen

Clarivate (NYSE:CLVT) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. 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 report on Thursday, January 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $3.00 target price (down previously from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Clarivate currently has an average rating of “Reduce” and a consensus price target of $4.28.

Clarivate Stock Performance

NYSE:CLVT opened at $2.16 on Friday. The stock has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $3.65. The stock has a market cap of $1.43 billion, a P/E ratio of -3.79 and a beta of 1.51. Clarivate has a 1-year low of $1.94 and a 1-year high of $5.16. 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 Buying and Selling at Clarivate

In other news, insider Bar Veinstein sold 309,902 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the completion of the sale, the insider owned 848,811 shares of the company’s stock, valued at approximately $3,174,553.14. This represents a 26.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Clarivate during the 2nd quarter valued at approximately $19,273,000. Balyasny Asset Management L.P. boosted its position in Clarivate by 827.6% in the third quarter. Balyasny Asset Management L.P. now owns 4,882,593 shares of the company’s stock valued at $18,700,000 after buying an additional 4,356,232 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Clarivate by 506.9% during the second quarter. Bank of America Corp DE now owns 2,870,668 shares of the company’s stock worth $12,344,000 after buying an additional 2,397,670 shares during the last quarter. Man Group plc grew its stake in shares of Clarivate by 228.1% during the second quarter. Man Group plc now owns 3,091,139 shares of the company’s stock worth $13,292,000 after buying an additional 2,148,943 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of Clarivate during the third quarter worth $8,072,000. 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.