Clarivate (NYSE:CLVT) Now Covered by Morgan Stanley

Morgan Stanley assumed coverage on shares of Clarivate (NYSE:CLVT) in a report released on Friday. The firm issued an underweight rating and a $1.50 price objective on the stock.

A number of other equities analysts also recently issued reports on CLVT. Barclays lowered their price objective on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. The Goldman Sachs Group reduced their target price on Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a report on Thursday, July 30th. William Blair downgraded shares of Clarivate to a “market perform” rating in a research report on Thursday, October 15th. Stifel Nicolaus lowered their price target on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Clarivate currently has a consensus rating of “Reduce” and an average price target of $2.77.

Clarivate Stock Down 4.4%

Shares of NYSE:CLVT opened at $1.65 on Friday. The firm has a market cap of $1.05 billion, a P/E ratio of -3.16 and a beta of 1.40. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. Clarivate has a 12-month low of $1.42 and a 12-month high of $3.87. The business has a fifty day simple moving average of $1.82 and a 200 day simple moving average of $2.23.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $587.30 million for the quarter, compared to the consensus estimate of $589.73 million. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Analysts predict that Clarivate will post 0.67 earnings per share for the current year.

Insider Transactions at Clarivate

In other Clarivate news, Director Andrew Snyder sold 2,489,618 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the completion of the sale, the director directly owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This trade represents a 39.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth Cornick acquired 250,000 shares of the stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $1.85 per share, with a total value of $462,500.00. Following the completion of the transaction, the director owned 2,000,000 shares in the company, valued at approximately $3,700,000. This represents a 14.29% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 22.88% of the company’s stock.

Institutional Investors Weigh In On Clarivate

A number of hedge funds have recently added to or reduced their stakes in CLVT. First Trust Advisors LP grew its position in shares of Clarivate by 10.3% during the 1st quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock worth $13,972,000 after buying an additional 516,418 shares during the period. Empowered Funds LLC increased its stake in shares of Clarivate by 418.6% in the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after acquiring an additional 1,627,159 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Clarivate by 1.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,845,148 shares of the company’s stock valued at $4,668,000 after acquiring an additional 24,257 shares during the period. KBC Group NV acquired a new position in shares of Clarivate during the 1st quarter valued at $4,118,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Clarivate during the 1st quarter valued at $3,342,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.