Clarivate (NYSE:CLVT) Rating Lowered to "Market Perform" at William Blair

William Blair downgraded shares of Clarivate (NYSE:CLVT - Free Report) from an outperform rating to a market perform rating in a research report released on Wednesday morning, Marketbeat Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada dropped their target price on shares of Clarivate from $8.00 to $7.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 7th. Barclays reduced their price objective on Clarivate from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.58.

Clarivate Price Performance

NYSE CLVT traded down $1.85 on Wednesday, reaching $4.74. 24,376,401 shares of the company's stock traded hands, compared to its average volume of 4,202,856. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. Clarivate has a 12 month low of $4.57 and a 12 month high of $9.60. The stock has a 50-day simple moving average of $6.68 and a 200 day simple moving average of $6.32. The stock has a market cap of $3.43 billion, a PE ratio of -2.59 and a beta of 1.18.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $650.30 million during the quarter, compared to analysts' expectations of $651.94 million. During the same quarter in the prior year, the company posted $0.16 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts predict that Clarivate will post 0.64 earnings per share for the current year.

Insider Transactions at Clarivate

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the sale, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the completion of the acquisition, the director now directly owns 288,334 shares in the company, valued at approximately $1,582,953.66. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bar Veinstein sold 120,000 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the sale, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock valued at $1,379,111 in the last quarter. 23.14% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clarivate

Institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new stake in Clarivate in the 2nd quarter worth approximately $26,000. Evermay Wealth Management LLC acquired a new position in shares of Clarivate in the first quarter valued at approximately $31,000. Truist Financial Corp purchased a new stake in shares of Clarivate during the second quarter worth approximately $63,000. KBC Group NV lifted its position in shares of Clarivate by 33.2% during the 3rd 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 last quarter. Finally, Forum Financial Management LP purchased a new position in Clarivate in the second quarter valued at $75,000. Institutional investors and hedge funds own 85.72% of the company's stock.

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.