Clarivate (NYSE:CLVT) Shares Gap Up Following Insider Buying Activity

Clarivate Plc (NYSE:CLVT - Get Free Report) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $5.25, but opened at $5.65. Clarivate shares last traded at $5.70, with a volume of 452,552 shares trading hands.

Specifically, Director Michael J. Angelakis acquired 765,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the transaction, the director now directly owns 3,465,000 shares of the company's stock, valued at approximately $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis purchased 1,500,000 shares of Clarivate stock in a transaction on Wednesday, November 20th. The shares were purchased at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the transaction, the director now owns 1,500,000 shares in the company, valued at approximately $7,665,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. William Blair cut shares of Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Barclays dropped their price target on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut their price target on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Clarivate presently has a consensus rating of "Hold" and an average target price of $7.25.

Clarivate Price Performance

The business has a 50 day simple moving average of $6.17 and a two-hundred day simple moving average of $6.11. The firm has a market capitalization of $4.08 billion, a P/E ratio of -2.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88.

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

Institutional Trading of Clarivate

A number of hedge funds have recently made changes to their positions in CLVT. Baupost Group LLC MA boosted its stake 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 valued at $221,510,000 after purchasing an additional 8,331,233 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock valued at $83,945,000 after acquiring an additional 2,409,470 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock valued at $55,344,000 after acquiring an additional 2,332,388 shares during the period. Raymond James & Associates lifted its position in Clarivate by 19.0% in the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company's stock valued at $41,223,000 after purchasing an additional 1,157,976 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Clarivate by 8.6% in the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company's stock valued at $51,443,000 after purchasing an additional 571,289 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

Clarivate Company Profile

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.