Clarivate Plc (NYSE:CLVT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Clarivate Plc (NYSE:CLVT) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.10.

CLVT has been the subject of several research reports. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada cut their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Barclays reduced their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th.

Clarivate Stock Up 0.1 %

CLVT opened at $5.10 on Friday. Clarivate has a twelve month low of $4.25 and a twelve month high of $9.60. The company’s 50-day moving average price is $5.19 and its two-hundred day moving average price is $5.98. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. Clarivate’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, equities analysts expect that Clarivate will post 0.63 earnings per share for the current year.

Clarivate announced that its Board of Directors has authorized a stock buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Clarivate

In other news, Director Michael J. Angelakis purchased 765,000 shares of Clarivate stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the transaction, the director now directly owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 22.77% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Institutional investors and hedge funds have recently made changes to their positions in the business. Baupost Group LLC MA raised its holdings in shares of Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after acquiring an additional 8,331,233 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the last quarter. Perpetual Ltd raised its stake in Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after purchasing an additional 1,816,936 shares in the last quarter. Geode Capital Management LLC lifted its position in Clarivate by 8.6% during the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock valued at $51,443,000 after purchasing an additional 571,289 shares during the last quarter. Finally, FMR LLC grew its stake in Clarivate by 8.6% in the 3rd quarter. FMR LLC now owns 5,088,942 shares of the company’s stock worth $36,131,000 after buying an additional 401,920 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

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.