Clarivate (NYSE:CLVT) Stock Rating Lowered by William Blair

Clarivate (NYSE:CLVT) was downgraded by investment analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, Marketbeat Ratings reports.

CLVT has been the topic of several other reports. Barclays decreased their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report 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 report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Price Performance

CLVT opened at $4.68 on Wednesday. Clarivate has a one year low of $4.57 and a one year high of $9.60. The company has a fifty day moving average price of $6.64 and a 200-day moving average price of $6.31. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 positive return on equity of 10.01% and a negative net margin of 46.53%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Sell-side analysts anticipate that Clarivate will post 0.64 EPS for the current year.

Insiders Place Their Bets

In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction 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 transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Clarivate news, 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 completion of the sale, the insider now owns 976,583 shares in the company, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,646 shares of company stock valued at $1,379,111 over the last quarter. 23.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clarivate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in Clarivate during the 3rd quarter valued at about $101,000. OneDigital Investment Advisors LLC grew its position in shares of Clarivate by 2.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after buying an additional 2,865 shares during the last quarter. KBC Group NV increased its stake in shares of 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 buying an additional 2,549 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Clarivate by 21.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock valued at $254,000 after acquiring an additional 6,284 shares in the last quarter. Finally, Creative Planning purchased a new stake in Clarivate in the third quarter worth $142,000. 85.72% of the stock is currently owned by institutional investors.

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.