Clarivate (NYSE:CLVT) Stock Price Down 5.3% – What’s Next?

Shares of Clarivate PLC (NYSE:CLVT) were down 5.3% during mid-day trading on Monday . The company traded as low as $2.02 and last traded at $2.0450. Approximately 2,055,647 shares were traded during trading, a decline of 66% from the average daily volume of 6,130,213 shares. The stock had previously closed at $2.16.

Analyst Ratings Changes

CLVT has been the topic of a number of recent research reports. The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $4.20 to $3.60 in a research note on Thursday, January 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley reaffirmed 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. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $4.28.

Clarivate Trading Down 1.4%

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 stock has a 50 day moving average price of $3.21 and a 200 day moving average price of $3.65. The company has a market cap of $1.41 billion, a PE ratio of -3.74 and a beta of 1.51.

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was 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 owned 848,811 shares of the company’s stock, valued at approximately $3,174,553.14. The trade was a 26.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 23.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clarivate

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Clarivate by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock worth $83,373,000 after purchasing an additional 696,903 shares during the last quarter. American Century Companies Inc. grew its stake in Clarivate by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock worth $38,200,000 after buying an additional 1,706,306 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased 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 valued at $39,958,000 after buying an additional 1,514,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Clarivate by 9.3% in the third quarter. Vanguard Group Inc. now owns 8,922,585 shares of the company’s stock worth $34,173,000 after acquiring an additional 756,722 shares in the last quarter. Finally, Perpetual Ltd grew its stake in shares of Clarivate by 3.4% during the third quarter. Perpetual Ltd now owns 8,567,267 shares of the company’s stock worth $32,813,000 after acquiring an additional 281,950 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.