Clarivate Plc (NYSE:CLVT) Given Average Rating of “Hold” by Brokerages

Clarivate Plc (NYSE:CLVT) has been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.10.

A number of brokerages have recently weighed in on CLVT. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price target on shares of Clarivate in a report on Thursday. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays reduced their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th.

Clarivate Stock Up 5.6 %

Shares of NYSE CLVT traded up $0.27 on Thursday, hitting $5.03. The company had a trading volume of 5,328,298 shares, compared to its average volume of 5,193,915. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate has a 12-month low of $4.22 and a 12-month high of $9.07. The business has a 50 day moving average of $5.14 and a two-hundred day moving average of $5.81. The firm has a market capitalization of $3.57 billion, a P/E ratio of -2.53 and a beta of 1.17.

Clarivate declared that its Board of Directors has approved a stock repurchase program on Monday, December 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the acquisition, the director now directly owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clarivate

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after purchasing an additional 3,245 shares during the last quarter. RPO LLC acquired a new stake in Clarivate in the fourth quarter valued at about $55,000. Schonfeld Strategic Advisors LLC acquired a new stake in Clarivate in the fourth quarter valued at about $56,000. Kathmere Capital Management LLC bought a new position in Clarivate in the fourth quarter valued at about $58,000. Finally, Truist Financial Corp raised its position in Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.