Clarivate (NYSE:CLVT) Sets New 1-Year Low – Should You Sell?

Clarivate Plc (NYSE:CLVT) hit a new 52-week low on Friday . The company traded as low as $4.43 and last traded at $4.44, with a volume of 945964 shares traded. The stock had previously closed at $4.50.

Wall Street Analyst Weigh In

A number of analysts recently commented on CLVT shares. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Barclays lowered their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada cut their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Trading Down 3.8 %

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $3.08 billion, a P/E ratio of -2.18 and a beta of 1.18. The business has a fifty day moving average price of $6.34 and a 200 day moving average price of $6.19.

Clarivate (NYSE:CLVT) last released its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. During the same quarter in the previous year, the business posted $0.18 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts expect that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares in the company, valued at $6,416,081. This trade represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction dated Friday, August 30th. The shares were 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 approximately $160,251.75. This trade represents a 42.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock worth $1,379,111 in the last quarter. Corporate insiders own 22.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Clarivate by 8.6% in the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock valued at $51,443,000 after purchasing an additional 571,289 shares during the period. Public Employees Retirement System of Ohio bought a new position in Clarivate in the 3rd quarter valued at about $1,072,000. XTX Topco Ltd lifted its position in Clarivate by 22.7% during the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock worth $381,000 after acquiring an additional 9,934 shares during the last quarter. Repertoire Partners LP boosted its holdings in shares of Clarivate by 139.2% during the third quarter. Repertoire Partners LP now owns 76,329 shares of the company’s stock worth $542,000 after acquiring an additional 44,413 shares during the period. Finally, Clearline Capital LP increased its stake in shares of Clarivate by 7.6% during the third quarter. Clearline Capital LP now owns 2,247,322 shares of the company’s stock worth $15,956,000 after purchasing an additional 158,900 shares during the period. 85.72% of the stock is currently owned by institutional investors.

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.