Clarivate (NYSE:CLVT) Trading Down 3.5%

Clarivate Plc (NYSE:CLVT - Get Free Report) shares dropped 3.5% during trading on Thursday . The stock traded as low as $6.27 and last traded at $6.28. Approximately 866,672 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,352,167 shares. The stock had previously closed at $6.51.

Wall Street Analyst Weigh In

CLVT has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Clarivate from $8.00 to $7.00 and set a "sector perform" rating for the company in a report on Wednesday, August 7th. Barclays decreased their price objective on Clarivate from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $7.75.

Clarivate Trading Down 3.1 %

The company has a market cap of $4.22 billion, a P/E ratio of -3.80, a PEG ratio of 3.32 and a beta of 1.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $6.33 and a 200-day moving average price of $6.48.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. Analysts forecast that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Insider Activity at Clarivate

In other Clarivate news, Director Andrew Miles Snyder purchased 28,938 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the completion of the transaction, the director now directly owns 288,334 shares in the company, valued at $1,582,953.66. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now directly owns 23,741 shares of the company's stock, valued at $160,251.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Miles Snyder bought 28,938 shares of the business's stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $5.49 per share, with a total value of $158,869.62. Following the purchase, the director now owns 288,334 shares in the company, valued at approximately $1,582,953.66. The disclosure for this purchase can be found here. 22.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Clarivate by 5.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company's stock worth $168,000 after acquiring an additional 1,580 shares during the period. Treasurer of the State of North Carolina grew its holdings in Clarivate by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 208,731 shares of the company's stock valued at $1,933,000 after buying an additional 2,040 shares in the last quarter. Arizona State Retirement System increased its position in Clarivate by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 84,172 shares of the company's stock worth $479,000 after buying an additional 2,064 shares during the period. Ironwood Investment Counsel LLC lifted its holdings in shares of Clarivate by 3.5% during the first quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company's stock worth $566,000 after buying an additional 2,575 shares in the last quarter. Finally, Evermay Wealth Management LLC bought a new stake in shares of Clarivate in the first quarter valued at about $31,000. 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.