Clarivate (NYSE:CLVT) Hits New 1-Year Low - What's Next?

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CLVT shares. Barclays cut their price objective on Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, November 7th. William Blair cut shares of Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reduced their target price on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Clarivate currently has a consensus rating of "Hold" and an average price target of $7.25.

Clarivate Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The company has a fifty day moving average of $6.39 and a 200-day moving average of $6.21. The firm has a market cap of $3.15 billion, a P/E ratio of -2.23 and a beta of 1.18.

Clarivate (NYSE:CLVT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business's revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. On average, sell-side analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Saurabh Saha sold 17,646 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now owns 23,741 shares of the company's stock, valued at approximately $160,251.75. This trade represents a 42.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bar Veinstein sold 60,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was 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 of the company's stock, valued at approximately $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,646 shares of company stock worth $1,379,111. Corporate insiders own 22.77% of the company's stock.

Institutional Trading of Clarivate

Large investors have recently made changes to their positions in the stock. Baupost Group LLC MA lifted its position in shares of Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company's stock worth $221,510,000 after purchasing an additional 8,331,233 shares during the period. Capital World Investors acquired a new position in shares of Clarivate during the first quarter worth $30,104,000. Dimensional Fund Advisors LP lifted its holdings in shares of Clarivate by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock valued at $83,945,000 after purchasing an additional 2,409,470 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Clarivate by 31.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock worth $55,344,000 after purchasing an additional 2,332,388 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Clarivate by 37.5% in the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company's stock valued at $35,558,000 after buying an additional 1,704,761 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

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.

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