Insider Buying: Clarivate Plc (NYSE:CLVT) Director Acquires 765,000 Shares of Stock

Clarivate Plc (NYSE:CLVT - Get Free Report) Director Michael J. Angelakis acquired 765,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were bought at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now owns 3,465,000 shares in the company, valued at approximately $17,983,350. This represents a 28.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Clarivate Stock Performance

NYSE CLVT traded up $0.11 during trading on Friday, hitting $5.25. 5,304,372 shares of the company's stock traded hands, compared to its average volume of 4,508,156. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -2.58 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. The business has a 50 day moving average of $6.21 and a 200-day moving average of $6.14. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS 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 during the quarter, compared to the consensus estimate of $640.81 million. During the same period last year, the firm earned $0.18 EPS. Clarivate's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Clarivate

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new position in Clarivate during the 2nd quarter valued at about $26,000. Truist Financial Corp bought a new position in shares of Clarivate in the second quarter valued at approximately $63,000. KBC Group NV grew its stake in Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company's stock valued at $73,000 after acquiring an additional 2,549 shares in the last quarter. Forum Financial Management LP bought a new stake in Clarivate during the 2nd quarter worth approximately $75,000. Finally, Headlands Technologies LLC lifted its stake in Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock worth $83,000 after purchasing an additional 12,909 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CLVT shares. William Blair lowered shares of Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Barclays dropped their target price on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reduced 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Clarivate currently has a consensus rating of "Hold" and a consensus target price of $7.25.

About Clarivate

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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