Analysts Set Clarivate Plc (NYSE:CLVT) PT at $7.10

Clarivate Plc (NYSE:CLVT) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.10.

A number of brokerages have recently issued reports on CLVT. Barclays decreased their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of Clarivate in a research note on Thursday, February 20th.

Clarivate Stock Performance

Shares of NYSE:CLVT opened at $4.55 on Thursday. The business has a 50-day moving average of $5.08 and a two-hundred day moving average of $5.78. The firm has a market capitalization of $3.15 billion, a PE ratio of -4.74 and a beta of 1.17. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. Clarivate has a 12 month low of $4.22 and a 12 month high of $8.24.

Clarivate declared that its board has authorized a share buyback program on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 12.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Clarivate

Hedge funds have recently made changes to their positions in the company. Perpetual Ltd grew its holdings in Clarivate by 24.6% during the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after purchasing an additional 1,816,936 shares in the last quarter. Cerity Partners LLC boosted its position in Clarivate by 82.5% in the 3rd quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock valued at $1,436,000 after buying an additional 91,384 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Clarivate by 112.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock valued at $7,387,000 after acquiring an additional 551,838 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Clarivate by 707.5% during the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock worth $1,119,000 after acquiring an additional 138,031 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after acquiring an additional 3,245 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

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.