Clarivate Plc (NYSE:CLVT) Receives Average Recommendation of “Hold” from Brokerages

Clarivate Plc (NYSE:CLVT) has been given an average rating of “Hold” by the six ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $7.58.

CLVT has been the topic of several recent research reports. Royal Bank of Canada dropped their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays cut their target price on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th.

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the company’s 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 directly owns 976,583 shares in the company, valued at $6,836,081. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Miles Snyder bought 28,938 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the purchase, the director now directly owns 288,334 shares of the company’s stock, valued at $1,582,953.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new stake in Clarivate during the first quarter worth about $31,000. Nisa Investment Advisors LLC purchased a new stake in Clarivate in the second quarter worth approximately $26,000. J.W. Cole Advisors Inc. bought a new position in Clarivate during the first quarter valued at approximately $76,000. Truist Financial Corp purchased a new position in shares of Clarivate during the second quarter worth approximately $63,000. Finally, Forum Financial Management LP bought a new stake in shares of Clarivate in the 2nd quarter worth approximately $75,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Down 0.6 %

CLVT stock opened at $6.71 on Thursday. The stock has a fifty day moving average of $6.59 and a 200-day moving average of $6.39. Clarivate has a fifty-two week low of $4.97 and a fifty-two week high of $9.60. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of -4.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90.

Clarivate (NYSE:CLVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $651.94 million. During the same quarter last year, the business earned $0.16 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Clarivate will post 0.64 earnings per share for the current year.

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.