Shares of Clarivate Plc (NYSE:CLVT - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 7,397,950 shares were traded during mid-day trading, an increase of 92% from the previous session's volume of 3,851,896 shares.The stock last traded at $5.14 and had previously closed at $5.14.
Analyst Ratings Changes
A number of research firms recently commented on CLVT. Barclays reduced their price target on Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, November 7th. Royal Bank of Canada dropped their price target on Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 7th. Finally, William Blair cut shares of Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $7.10.
Get Our Latest Research Report on CLVT
Clarivate Stock Up 1.0 %
The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -2.54 and a beta of 1.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The stock's 50-day moving average price is $5.26 and its 200-day moving average price is $5.91.
Clarivate (NYSE:CLVT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. Clarivate's revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 earnings per share. On average, sell-side analysts expect that Clarivate Plc will post 0.63 earnings per share for the current year.
Clarivate announced that its board has approved a stock buyback plan on Monday, December 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Insider Transactions at Clarivate
In related news, Director Michael J. Angelakis acquired 1,500,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the acquisition, the director now owns 1,500,000 shares of the company's stock, valued at approximately $7,665,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.77% of the stock is owned by insiders.
Institutional Investors Weigh In On Clarivate
Several institutional investors have recently bought and sold shares of the stock. KBC Group NV lifted its holdings in Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company's stock worth $73,000 after acquiring an additional 2,549 shares during the period. Integrated Investment Consultants LLC grew its holdings in Clarivate by 2.9% during the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company's stock valued at $686,000 after purchasing an additional 2,696 shares during the period. OneDigital Investment Advisors LLC increased its position in Clarivate by 2.3% in the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company's stock worth $900,000 after buying an additional 2,865 shares during the last quarter. Truist Financial Corp raised its stake in shares of Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company's stock valued at $71,000 after buying an additional 3,000 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after buying an additional 3,245 shares during the last quarter. Institutional investors own 85.72% of the company's stock.
About Clarivate
(
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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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