Clarivate (NYSE:CLVT) Trading Up 8.5% Following Insider Buying Activity

Clarivate Plc (NYSE:CLVT)’s stock price traded up 8.5% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $5.99 and last traded at $5.98. 681,354 shares were traded during trading, a decline of 84% from the average session volume of 4,382,072 shares. The stock had previously closed at $5.51.

Specifically, Director Andrew Miles Snyder purchased 28,938 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the transaction, the director now directly owns 288,334 shares of the company’s stock, valued at $1,582,953.66. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 22.77% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CLVT has been the subject of a number of analyst reports. Barclays dropped 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. The Goldman Sachs Group lowered their price target on Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Royal Bank of Canada reduced their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clarivate currently has an average rating of “Hold” and an average price target of $7.75.

Clarivate Stock Up 8.9 %

The company has a market cap of $4.01 billion, a PE ratio of -3.58, a P/E/G ratio of 4.38 and a beta of 1.15. The company’s 50 day moving average is $5.88 and its 200 day moving average is $6.86. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03.

Clarivate (NYSE:CLVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.11% and a negative net margin of 39.29%. The business had revenue of $650.30 million for the quarter, compared to analysts’ expectations of $651.94 million. During the same quarter last year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, analysts predict that Clarivate Plc will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its holdings in Clarivate by 13.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 23,032 shares of the company’s stock valued at $213,000 after buying an additional 2,743 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Clarivate in the fourth quarter valued at about $956,000. Handelsbanken Fonder AB boosted its holdings in Clarivate by 103.8% in the 4th quarter. Handelsbanken Fonder AB now owns 127,600 shares of the company’s stock valued at $1,182,000 after purchasing an additional 65,000 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Clarivate by 12.5% during the 4th quarter. California Public Employees Retirement System now owns 780,468 shares of the company’s stock valued at $7,227,000 after buying an additional 86,795 shares during the period. Finally, Alaska Permanent Fund Corp grew its holdings in shares of Clarivate by 0.9% during the 4th quarter. Alaska Permanent Fund Corp now owns 286,539 shares of the company’s stock worth $2,653,000 after purchasing an additional 2,539 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

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.