Insider Buying: Clarivate (NYSE:CLVT) Director Acquires 500,000 Shares of Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick bought 500,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $3.38 per share, for a total transaction of $1,690,000.00. Following the completion of the acquisition, the director directly owned 775,000 shares of the company’s stock, valued at approximately $2,619,500. This represents a 181.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Clarivate Stock Performance

Shares of CLVT traded up $0.15 during mid-day trading on Monday, hitting $3.55. 6,074,979 shares of the company traded hands, compared to its average volume of 3,641,681. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a 50-day moving average price of $3.91 and a two-hundred day moving average price of $4.09. Clarivate PLC has a 1 year low of $3.04 and a 1 year high of $6.70. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -6.22 and a beta of 1.43.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $623.10 million during the quarter, compared to analysts’ expectations of $570.35 million. Clarivate had a positive return on equity of 8.55% and a negative net margin of 15.83%.Clarivate’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Equities analysts anticipate that Clarivate PLC will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Clarivate

Several hedge funds and other institutional investors have recently bought and sold shares of CLVT. Clarkston Capital Partners LLC boosted its holdings in Clarivate by 5.4% in the first quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock valued at $292,895,000 after acquiring an additional 3,794,083 shares during the last quarter. HG Vora Capital Management LLC acquired a new position in Clarivate in the first quarter valued at $47,160,000. AustralianSuper Pty Ltd acquired a new position in Clarivate in the first quarter valued at $39,593,000. Edmond DE Rothschild Holding S.A. boosted its holdings in Clarivate by 19.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock valued at $39,958,000 after acquiring an additional 1,514,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Clarivate by 2.5% in the first quarter. Vanguard Group Inc. now owns 8,969,796 shares of the company’s stock valued at $35,251,000 after acquiring an additional 218,938 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CLVT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarivate in a research report on Tuesday, October 14th. Wolfe Research began coverage on Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Jefferies Financial Group began coverage on Clarivate in a research report on Friday, July 18th. They set a “hold” rating and a $4.50 target price for the company. Finally, The Goldman Sachs Group set a $4.20 target price on Clarivate in a research report on Thursday. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $4.68.

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.