Shares of Clarivate Plc (NYSE:CLVT – Get Free Report) were down 3.5% during mid-day trading on Thursday . The stock traded as low as $6.27 and last traded at $6.28. Approximately 866,672 shares changed hands during trading, a decline of 80% from the average daily volume of 4,352,167 shares. The stock had previously closed at $6.51.
Analyst Upgrades and Downgrades
Several brokerages recently commented on CLVT. Barclays cut their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.75.
Clarivate Price Performance
The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The company has a market cap of $4.24 billion, a price-to-earnings ratio of -3.80, a PEG ratio of 3.32 and a beta of 1.17. The stock’s 50-day simple moving average is $6.31 and its 200 day simple moving average is $6.48.
Clarivate (NYSE:CLVT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The firm had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. During the same period in the prior year, the business posted $0.16 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Clarivate Plc will post 0.64 EPS for the current fiscal year.
Insider Activity at Clarivate
In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction on Thursday, August 8th. The shares were bought at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the acquisition, the director now directly owns 288,334 shares in the company, valued at $1,582,953.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the acquisition, the director now owns 288,334 shares of the company’s stock, valued at $1,582,953.66. The disclosure for this purchase can be found here. Company insiders own 22.77% of the company’s stock.
Institutional Investors Weigh In On Clarivate
A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Clarivate during the 2nd quarter worth about $1,410,000. Edmond DE Rothschild Holding S.A. purchased a new position in Clarivate in the fourth quarter valued at approximately $25,576,000. Glenview Capital Management LLC raised its holdings in Clarivate by 22.2% during the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock worth $228,269,000 after purchasing an additional 4,472,302 shares in the last quarter. Capital World Investors acquired a new stake in Clarivate during the first quarter worth approximately $30,104,000. Finally, Confluence Investment Management LLC purchased a new stake in shares of Clarivate during the 1st quarter worth approximately $18,389,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.
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.