Clarivate Plc (NYSE:CLVT) Receives Consensus Recommendation of “Hold” from Analysts

Clarivate Plc (NYSE:CLVT) has received a consensus rating of “Hold” from the seven research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.71.

A number of analysts have commented on the company. Royal Bank of Canada decreased their price objective 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 lowered their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th.

Clarivate Price Performance

Shares of NYSE CLVT opened at $6.80 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $4.54 billion, a PE ratio of -4.09 and a beta of 1.17. The firm has a fifty day simple moving average of $6.51 and a 200 day simple moving average of $6.41. Clarivate has a twelve month low of $4.97 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The firm had revenue of $650.30 million during the quarter, compared to analyst estimates of $651.94 million. During the same period last year, the company posted $0.16 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Clarivate will post 0.64 EPS for the current year.

Insider Buying and Selling

In related news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of the business’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 transaction, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently made changes to their positions in CLVT. Evermay Wealth Management LLC purchased a new position in shares of Clarivate in the first quarter worth about $31,000. Nisa Investment Advisors LLC bought a new stake in shares of Clarivate in the second quarter worth about $26,000. J.W. Cole Advisors Inc. purchased a new position in Clarivate during the 1st quarter valued at about $76,000. Truist Financial Corp bought a new position in Clarivate during the 2nd quarter valued at approximately $63,000. Finally, Forum Financial Management LP purchased a new stake in Clarivate in the 2nd quarter worth approximately $75,000. 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.