By otakuyassine3@gmail.com 
Clarivate Plc (NYSE:CLVT – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. One research 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 twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.10.
Several research firms recently commented on CLVT. Barclays reduced their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada reduced 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, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th.
View Our Latest Stock Analysis on CLVT
Clarivate Stock Down 1.2 %
Shares of CLVT opened at $5.06 on Tuesday. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -2.54 and a beta of 1.12. Clarivate has a 52 week low of $4.25 and a 52 week high of $9.60. The stock’s 50-day moving average price is $5.51 and its 200-day moving average price is $6.03. 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 – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. On average, sell-side analysts predict that Clarivate will post 0.63 EPS for the current year.
Clarivate declared that its Board of Directors has approved a share repurchase program on Monday, December 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Clarivate
In related news, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This trade represents a 6.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis purchased 765,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the transaction, the director now owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.77% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Clarivate during the second quarter worth about $26,000. Truist Financial Corp acquired a new position in shares of Clarivate during the second quarter worth $63,000. KBC Group NV increased its holdings in Clarivate by 33.2% in 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 last quarter. Forum Financial Management LP acquired a new stake in Clarivate in the second quarter valued at $75,000. Finally, Headlands Technologies LLC lifted its holdings in Clarivate by 749.2% during the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after buying an additional 12,909 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.
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.
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