Clarivate (NYSE:CLVT) Price Target Cut to $4.00 by Analysts at Barclays

Clarivate (NYSE:CLVT - Get Free Report) had its target price lowered by investment analysts at Barclays from $5.00 to $4.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Barclays's price objective would suggest a potential downside of 14.53% from the stock's current price.

A number of other equities analysts have also issued reports on CLVT. Royal Bank of Canada reduced their target price on shares of Clarivate from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. William Blair lowered shares of Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $7.25.

Clarivate Trading Down 2.5 %

NYSE:CLVT traded down $0.12 on Thursday, reaching $4.68. The stock had a trading volume of 17,830,979 shares, compared to its average volume of 4,282,921. Clarivate has a 1-year low of $4.57 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a fifty day moving average price of $6.64 and a 200-day moving average price of $6.31.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $651.94 million. During the same period in the previous year, the business earned $0.16 earnings per share. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts predict that Clarivate will post 0.64 EPS for the current fiscal year.

Insider Activity at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the 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 directly owns 23,741 shares in the company, valued at $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $6,416,081. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the company'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 transaction of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares of the company's stock, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,646 shares of company stock worth $1,379,111 over the last ninety days. Company insiders own 23.14% of the company's stock.

Institutional Investors Weigh In On Clarivate

Several large investors have recently made changes to their positions in CLVT. Baupost Group LLC MA increased its position in shares of Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company's stock worth $221,510,000 after acquiring an additional 8,331,233 shares in the last quarter. Capital World Investors bought a new stake in shares of Clarivate during the first quarter worth $30,104,000. Dimensional Fund Advisors LP increased its position in shares of Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock worth $83,945,000 after acquiring an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock worth $55,344,000 after acquiring an additional 2,332,388 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in shares of Clarivate by 37.5% during the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company's stock worth $35,558,000 after acquiring an additional 1,704,761 shares in the last quarter. Institutional investors own 85.72% of the company's stock.

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.