Wall Street Zen Downgrades Clarivate (NYSE:CLVT) to Hold

Clarivate (NYSE:CLVT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Clarivate Stock Down 1.1%

NYSE CLVT opened at $4.20 on Friday. The business has a fifty day moving average price of $4.09 and a two-hundred day moving average price of $4.50. The stock has a market capitalization of $2.87 billion, a PE ratio of -4.32 and a beta of 1.47. Clarivate has a fifty-two week low of $3.04 and a fifty-two week high of $7.15. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.88 and a quick ratio of 0.88.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The business had revenue of $593.70 million during the quarter, compared to the consensus estimate of $574.03 million. During the same period in the prior year, the company earned $0.14 EPS. Clarivate’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts expect that Clarivate will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Millstone Evans Group LLC grew its position in Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company’s stock worth $30,000 after acquiring an additional 4,605 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Clarivate during the first quarter valued at about $30,000. RPO LLC bought a new stake in shares of Clarivate during the fourth quarter worth about $55,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clarivate in the fourth quarter valued at approximately $56,000. Finally, MQS Management LLC bought a new position in Clarivate in the 1st quarter valued at approximately $44,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

About Clarivate

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.