Clarivate (NYSE:CLVT) Sets New 52-Week Low – Time to Sell?

Clarivate PLC (NYSE:CLVT)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $2.59 and last traded at $2.6550, with a volume of 7847823 shares. The stock had previously closed at $2.65.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and reduced their target price for the company from $4.20 to $3.60 in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $4.28.

Clarivate Stock Up 0.2%

The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -4.66 and a beta of 1.51. The firm has a 50 day moving average of $3.34 and a 200 day moving average of $3.71. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

Insiders Place Their Bets

In related news, Director Kenneth L. Cornick bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $3.45 per share, with a total value of $345,000.00. Following the completion of the purchase, the director directly owned 1,100,000 shares in the company, valued at $3,795,000. The trade was a 10.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 309,902 shares of the firm’s stock in a transaction 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 sale, the insider owned 848,811 shares of the company’s stock, valued at $3,174,553.14. The trade was a 26.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 23.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Clarivate by 96.2% in the first quarter. Royal Bank of Canada now owns 63,630 shares of the company’s stock worth $250,000 after acquiring an additional 31,197 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Clarivate by 37.0% during the first quarter. AQR Capital Management LLC now owns 451,872 shares of the company’s stock worth $1,749,000 after purchasing an additional 122,099 shares during the period. Millennium Management LLC lifted its holdings in shares of Clarivate by 1,420.4% in the 1st quarter. Millennium Management LLC now owns 1,188,978 shares of the company’s stock worth $4,673,000 after purchasing an additional 1,110,774 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Clarivate by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 616,250 shares of the company’s stock valued at $2,422,000 after purchasing an additional 82,768 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Clarivate by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,243,683 shares of the company’s stock valued at $4,888,000 after purchasing an additional 144,462 shares in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

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.