Clarivate (NYSE:CLVT) Sets New 52-Week Low – What’s Next?
by Scott Moore · The Cerbat GemClarivate PLC (NYSE:CLVT – Get Free Report)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $1.90 and last traded at $1.8950, with a volume of 955621 shares traded. The stock had previously closed at $2.06.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on CLVT. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price target (down previously from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $4.20 to $3.60 in a research note on Thursday, January 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Finally, Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a report on Saturday. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $4.28.
View Our Latest Stock Analysis on Clarivate
Clarivate Trading Down 11.4%
The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $1.21 billion, a P/E ratio of -3.22 and a beta of 1.51. The firm’s 50-day simple moving average is $3.15 and its 200-day simple moving average is $3.61.
Insider Buying and Selling
In related news, insider Bar Veinstein sold 309,902 shares of the stock in a transaction on 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 transaction, the insider owned 848,811 shares of the company’s stock, valued at $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.18% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Clarivate
A number of large investors have recently modified their holdings of CLVT. Cetera Investment Advisers boosted its stake in Clarivate by 11.2% in the second quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after buying an additional 2,617 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Clarivate by 0.9% during the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock worth $1,304,000 after acquiring an additional 2,788 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Clarivate by 3.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock worth $296,000 after acquiring an additional 2,884 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Clarivate by 8.1% in the 3rd quarter. IFP Advisors Inc now owns 41,426 shares of the company’s stock valued at $170,000 after purchasing an additional 3,117 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Clarivate by 4.3% during the 2nd quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock valued at $500,000 after purchasing an additional 4,792 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other 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.