Insider Buying: Clarivate Plc (NYSE:CLVT) Director Acquires 1,500,000 Shares of Stock

Clarivate Plc (NYSE:CLVT - Get Free Report) Director Michael J. Angelakis acquired 1,500,000 shares of the firm's 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 directly owns 1,500,000 shares of the company's stock, 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 can be accessed through the SEC website.

Clarivate Stock Up 2.0 %

NYSE:CLVT traded up $0.11 during midday trading on Friday, reaching $5.25. 5,304,372 shares of the stock traded hands, compared to its average volume of 4,508,156. The stock has a market capitalization of $3.73 billion, a PE ratio of -2.58 and a beta of 1.18. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60. 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 business has a 50-day moving average of $6.21 and a two-hundred day moving average of $6.14.

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 analysts' consensus estimates of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm had revenue of $622.20 million during the quarter, compared to analysts' expectations of $640.81 million. During the same quarter last year, the firm earned $0.18 EPS. The business's quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CLVT has been the subject of several recent research reports. William Blair lowered shares of Clarivate from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a research note on Thursday, November 7th. Finally, Barclays dropped their target price on Clarivate from $5.00 to $4.00 and set an "underweight" rating on the stock in a research report on Thursday, November 7th. Two analysts have 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.25.

Institutional Investors Weigh In On Clarivate

A number of large investors have recently modified their holdings of CLVT. Baupost Group LLC MA increased its position 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 acquiring an additional 8,331,233 shares during the period. Impactive Capital LP lifted its holdings in shares of Clarivate by 0.3% during the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company's stock worth $281,502,000 after purchasing an additional 109,247 shares during the period. Dimensional Fund Advisors LP increased its holdings in Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock worth $83,945,000 after buying an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC raised its position in Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock worth $55,344,000 after buying an additional 2,332,388 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in Clarivate by 19.0% during the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company's stock valued at $41,223,000 after acquiring an additional 1,157,976 shares during the period. Hedge funds and other institutional investors 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.

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