Clarivate (NYSE:CLVT) Trading Down 3.5%

Clarivate Plc (NYSE:CLVT)’s stock price was down 3.5% during mid-day trading on Thursday . The stock traded as low as $6.27 and last traded at $6.28. Approximately 866,672 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,352,167 shares. The stock had previously closed at $6.51.

Wall Street Analysts Forecast Growth

CLVT has been the subject of a number of recent analyst reports. 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. Barclays lowered their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clarivate currently has an average rating of “Hold” and an average price target of $7.75.

Clarivate Stock Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -3.96, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The stock has a 50-day moving average price of $6.35 and a 200 day moving average price of $6.47.

Clarivate (NYSE:CLVT) last announced 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 firm had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. As a group, analysts anticipate that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrew Miles Snyder acquired 28,938 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the acquisition, the director now owns 288,334 shares in the company, valued at $1,582,953.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $5.49 per share, with a total value of $158,869.62. Following the completion of the purchase, the director now directly owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The disclosure for this purchase can be found here. Company insiders own 22.77% of the company’s stock.

Institutional Trading of Clarivate

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Clarivate in the 2nd quarter valued at $1,410,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Clarivate in the fourth quarter valued at about $25,576,000. Glenview Capital Management LLC increased its position in Clarivate by 22.2% during the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock worth $228,269,000 after acquiring an additional 4,472,302 shares during the period. Capital World Investors bought a new position in Clarivate during the first quarter worth about $30,104,000. Finally, Confluence Investment Management LLC acquired a new stake in Clarivate in the 1st quarter worth about $18,389,000. Institutional investors and hedge funds 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.