Clarivate Plc (NYSE:CLVT) Receives Average Rating of "Hold" from Analysts

Clarivate Plc (NYSE:CLVT - Get Free Report) has been assigned an average rating of "Hold" from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.25.

A number of research firms recently commented on CLVT. Royal Bank of Canada decreased their target price on Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a report on Thursday, November 7th. William Blair cut Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Finally, Barclays dropped their price target on Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, November 7th.

Clarivate Price Performance

CLVT stock traded down $0.03 during midday trading on Friday, hitting $5.73. The company's stock had a trading volume of 3,842,035 shares, compared to its average volume of 4,543,330. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of -2.88 and a beta of 1.18. Clarivate has a 12 month low of $4.25 and a 12 month high of $9.60. The company has a 50 day moving average of $6.10 and a two-hundred day moving average of $6.10.

Clarivate (NYSE:CLVT - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting analysts' consensus estimates 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 positive return on equity of 9.69% and a negative net margin of 50.00%. The business's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. On average, analysts expect that Clarivate will post 0.63 EPS for the current year.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the purchase, the director now directly owns 1,500,000 shares in the company, valued at $7,665,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction 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 transaction, the insider now directly owns 916,583 shares of the company's stock, valued at approximately $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clarivate

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC acquired a new position in Clarivate during the second quarter worth $26,000. Truist Financial Corp acquired a new stake in Clarivate during the second quarter worth about $63,000. KBC Group NV grew its position 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 buying an additional 2,549 shares in the last quarter. Forum Financial Management LP bought a new position in Clarivate during the second quarter worth about $75,000. Finally, Headlands Technologies LLC lifted its stake in Clarivate by 749.2% during the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock worth $83,000 after purchasing an additional 12,909 shares during the period. 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.