Clarivate’s (CLVT) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of Clarivate (NYSE:CLVT) in a research report report published on Thursday,Benzinga reports. Royal Bank of Canada currently has a $6.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays lowered their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.10.

Clarivate Stock Up 0.1 %

NYSE:CLVT opened at $4.85 on Thursday. Clarivate has a 52 week low of $4.22 and a 52 week high of $9.07. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $5.80. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of -5.05 and a beta of 1.17.

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

Institutional Trading of Clarivate

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 3,245 shares in the last quarter. RPO LLC purchased a new stake in shares of Clarivate during the 4th quarter worth $55,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clarivate during the fourth quarter worth $56,000. Kathmere Capital Management LLC purchased a new position in Clarivate in the fourth quarter valued at $58,000. Finally, Truist Financial Corp raised its stake 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 buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds 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.