Clarivate Plc (NYSE:CLVT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Clarivate Plc (NYSE:CLVT) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.58.

A number of research firms recently commented on CLVT. Barclays decreased their price objective on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th.

Insider Buying and Selling

In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bar Veinstein sold 120,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is owned by company insiders.

Institutional Trading of Clarivate

A number of institutional investors and hedge funds have recently bought and sold shares of 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. Arizona State Retirement System lifted 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 acquiring an additional 2,064 shares in the last quarter. Ironwood Investment Counsel LLC boosted its holdings in Clarivate by 3.5% in the 1st quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company’s stock worth $566,000 after acquiring an additional 2,575 shares during the period. Evermay Wealth Management LLC acquired a new stake in Clarivate in the first quarter valued at approximately $31,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Clarivate during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Performance

NYSE:CLVT opened at $6.61 on Monday. 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 company has a market capitalization of $4.79 billion, a P/E ratio of -3.46 and a beta of 1.18. The firm has a 50-day moving average price of $6.68 and a two-hundred day moving average price of $6.33. Clarivate has a twelve month low of $4.97 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $650.30 million during the quarter, compared to analysts’ expectations 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 revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. As a group, research analysts expect that Clarivate will post 0.64 earnings per share for the current fiscal year.

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.