Insider Buying: Clarivate (NYSE:CLVT) Director Buys $792,000.00 in Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick purchased 225,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $3.52 per share, with a total value of $792,000.00. Following the purchase, the director directly owned 1,000,000 shares in the company, valued at approximately $3,520,000. The trade was a 29.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clarivate Trading Down 0.1%

NYSE:CLVT opened at $3.48 on Thursday. The company has a market capitalization of $2.30 billion, a PE ratio of -6.10 and a beta of 1.43. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. Clarivate PLC has a 52-week low of $3.04 and a 52-week high of $5.88. The stock has a fifty day simple moving average of $3.87 and a 200-day simple moving average of $4.09.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $623.10 million during the quarter, compared to the consensus estimate of $570.35 million. Clarivate had a positive return on equity of 8.55% and a negative net margin of 15.83%.The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, equities research analysts expect that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CLVT. Millstone Evans Group LLC increased its stake in shares of Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company’s stock valued at $30,000 after acquiring an additional 4,605 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after acquiring an additional 7,157 shares during the last quarter. MQS Management LLC acquired a new position in shares of Clarivate during the 1st quarter valued at about $44,000. Pitcairn Co. acquired a new position in shares of Clarivate during the 2nd quarter valued at about $52,000. Finally, Wedmont Private Capital acquired a new position in shares of Clarivate during the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CLVT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clarivate in a research note on Tuesday, October 14th. Jefferies Financial Group initiated coverage on shares of Clarivate in a research note on Friday, July 18th. They issued a “hold” rating and a $4.50 target price for the company. Wolfe Research initiated coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group set a $4.20 target price on shares of Clarivate in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price 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.