Clarivate Plc (NYSE:CLVT - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $5.11, but opened at $5.41. Clarivate shares last traded at $5.46, with a volume of 681,935 shares trading hands.
Wall Street Analyst Weigh In
CLVT has been the subject of a number of research analyst reports. Barclays dropped their price objective 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 lowered their price target on Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a research report on Thursday, November 7th. Finally, William Blair downgraded Clarivate from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $7.10.
Read Our Latest Analysis on Clarivate
Clarivate Trading Up 7.6 %
The firm has a fifty day moving average of $5.81 and a 200-day moving average of $6.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -2.76 and a beta of 1.12.
Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.19. The business 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 company's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities analysts predict that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.
Clarivate declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Insider Activity at Clarivate
In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of Clarivate stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $5.11 per share, with a total value of $7,665,000.00. Following the completion of 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now owns 916,583 shares in the company, valued at $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.77% of the company's stock.
Institutional Trading of Clarivate
Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new position in Clarivate during the 2nd quarter worth approximately $26,000. Truist Financial Corp bought a new position in Clarivate during the second quarter worth $63,000. KBC Group NV boosted its holdings in Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company's stock worth $73,000 after purchasing an additional 2,549 shares during the period. Forum Financial Management LP acquired a new position in Clarivate in the second quarter worth $75,000. Finally, Headlands Technologies LLC increased its stake in Clarivate by 749.2% during the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock valued at $83,000 after purchasing an additional 12,909 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.
About Clarivate
(
Get Free Report)
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.
See Also
Before you consider Clarivate, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Clarivate wasn't on the list.
While Clarivate currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
