Clarivate Plc (NYSE:CLVT) Director Saurabh Saha Sells 17,646 Shares

Clarivate Plc (NYSE:CLVT) Director Saurabh Saha sold 17,646 shares of the firm’s 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 completion of the transaction, the director now directly owns 23,741 shares in the company, valued at $160,251.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Clarivate Stock Up 1.7 %

CLVT stock traded up $0.12 during mid-day trading on Wednesday, reaching $6.75. 4,043,734 shares of the company traded hands, compared to its average volume of 4,399,500. Clarivate Plc has a fifty-two week low of $4.97 and a fifty-two week high of $9.60. The firm’s 50 day moving average price is $6.19 and its 200 day moving average price is $6.56. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of -4.07, a P/E/G ratio of 3.41 and a beta of 1.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. Clarivate’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Clarivate

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp purchased a new position in shares of Clarivate during the 2nd quarter worth $63,000. Algert Global LLC purchased a new stake in Clarivate in the 2nd quarter worth about $172,000. Clearline Capital LP grew its stake in Clarivate by 141.2% in the 2nd quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock worth $11,883,000 after acquiring an additional 1,222,646 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Clarivate by 18.2% during the second quarter. SkyView Investment Advisors LLC now owns 155,853 shares of the company’s stock valued at $887,000 after purchasing an additional 23,989 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Clarivate during the second quarter valued at approximately $2,251,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays decreased their price target 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 dropped their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on Clarivate from $8.50 to $7.50 and set a “buy” rating for the company in a research note on Thursday, May 9th. Two 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.75.

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.