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

Clarivate Plc (NYSE:CLVT) has been given an average recommendation of “Hold” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.25.

A number of equities research analysts recently weighed in on 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 target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada cut their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th.

Clarivate Stock Up 3.2 %

CLVT opened at $5.76 on Friday. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -2.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $6.11. Clarivate has a twelve month low of $4.25 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The firm had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Clarivate will post 0.63 EPS for the current fiscal year.

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Angelakis bought 765,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the transaction, the director now directly owns 3,465,000 shares in the company, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their position. The disclosure for this purchase can be found here. 22.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in shares of Clarivate in the 2nd quarter valued at approximately $26,000. Truist Financial Corp bought a new position in Clarivate in the second quarter valued at approximately $63,000. KBC Group NV boosted its holdings in shares of Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares during the period. Forum Financial Management LP bought a new stake in shares of Clarivate during the second quarter worth $75,000. Finally, Headlands Technologies LLC raised its holdings in shares of Clarivate by 749.2% during the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after acquiring an additional 12,909 shares during the period. 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.