Shares of Clarivate Plc (NYSE:CLVT – Get Rating) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.92.
Several research firms have issued reports on CLVT. Morgan Stanley dropped their price target on shares of Clarivate from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 4th. Wells Fargo & Company dropped their price target on shares of Clarivate from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. Royal Bank of Canada dropped their price target on shares of Clarivate from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. The Goldman Sachs Group dropped their price target on shares of Clarivate from $17.00 to $14.50 and set a “buy” rating on the stock in a research report on Wednesday, November 9th. Finally, TheStreet lowered shares of Clarivate from a “c-” rating to a “d” rating in a research report on Monday, November 21st.
Clarivate Stock Performance
Shares of CLVT stock opened at $10.87 on Monday. The company’s fifty day simple moving average is $9.26 and its 200-day simple moving average is $10.80. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.16. The firm has a market cap of $7.33 billion, a PE ratio of -1.59 and a beta of 0.99. Clarivate has a 12 month low of $7.85 and a 12 month high of $17.91.
In other news, insider James Gordon Samson sold 100,000 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $10.48, for a total value of $1,048,000.00. Following the transaction, the insider now directly owns 737,898 shares of the company’s stock, valued at $7,733,171.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 24.88% of the company’s stock.
Hedge Funds Weigh In On Clarivate
Institutional investors and hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. acquired a new position in shares of Clarivate in the second quarter valued at about $151,000. Raymond James Trust N.A. grew its stake in shares of Clarivate by 38.2% in the second quarter. Raymond James Trust N.A. now owns 48,733 shares of the company’s stock valued at $675,000 after acquiring an additional 13,470 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Clarivate by 12,806.4% in the second quarter. SG Americas Securities LLC now owns 834,655 shares of the company’s stock valued at $11,568,000 after acquiring an additional 828,188 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Clarivate in the second quarter valued at about $430,000. Finally, Rivulet Capital LLC grew its stake in Clarivate by 17.9% during the second quarter. Rivulet Capital LLC now owns 6,022,400 shares of the company’s stock worth $83,470,000 after buying an additional 913,400 shares in the last quarter. 87.34% of the stock is currently owned by institutional investors and hedge funds.
Clarivate Plc engages in the provision of global information, analytics and workflow solutions. It operates through the Science and Intellectual Property segments. The Science segment is composed of the academia and government, and life science and healthcare product lines. The Intellectual Property segment includes the patent, trademark, domain, and IP management product lines.
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