Insider Selling: Clarivate Plc (NYSE:CLVT) Insider Sells 120,000 Shares of Stock

Clarivate Plc (NYSE:CLVT) insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Clarivate Price Performance

Shares of Clarivate stock traded down $0.14 on Monday, hitting $6.80. 3,316,982 shares of the company were exchanged, compared to its average volume of 4,329,310. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of -4.15, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The company has a 50-day moving average price of $6.47 and a 200 day moving average price of $6.44. Clarivate Plc has a 1-year low of $4.97 and a 1-year high of $9.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $651.94 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CLVT shares. Royal Bank of Canada cut their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Barclays cut their price objective on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $7.75.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CLVT. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Clarivate by 5.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock valued at $168,000 after purchasing an additional 1,580 shares during the period. Treasurer of the State of North Carolina raised its position in Clarivate by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 208,731 shares of the company’s stock valued at $1,933,000 after purchasing an additional 2,040 shares during the period. Arizona State Retirement System raised its position in Clarivate by 2.5% in the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock valued at $479,000 after purchasing an additional 2,064 shares during the period. Ironwood Investment Counsel LLC raised its position in Clarivate by 3.5% in the first quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company’s stock valued at $566,000 after purchasing an additional 2,575 shares during the period. Finally, Evermay Wealth Management LLC purchased a new stake in Clarivate in the first quarter valued at approximately $31,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.