Andrew Miles Snyder Sells 2,489,618 Shares of Clarivate (NYSE:CLVT) Stock

Clarivate PLC (NYSE:CLVT) Director Andrew Miles Snyder sold 2,489,618 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the completion of the sale, the director directly owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This trade represents a 39.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Clarivate Stock Performance

Clarivate stock traded down $0.03 during midday trading on Wednesday, reaching $1.94. 8,173,964 shares of the stock traded hands, compared to its average volume of 6,826,249. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $2.25 and a two-hundred day moving average price of $2.39. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -3.73 and a beta of 1.40. Clarivate PLC has a fifty-two week low of $1.66 and a fifty-two week high of $4.55.

Clarivate (NYSE:CLVT) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $587.30 million for the quarter, compared to analyst estimates of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. Clarivate’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. On average, equities research analysts forecast that Clarivate PLC will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CLVT. Citigroup cut their target price on Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus reduced their price objective on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group decreased their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Finally, Barclays lowered their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $3.02.

Hedge Funds Weigh In On Clarivate

Large investors have recently made changes to their positions in the business. First Trust Advisors LP boosted its holdings in Clarivate by 10.3% during the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock worth $13,972,000 after buying an additional 516,418 shares in the last quarter. Iridian Asset Management LLC CT lifted its holdings in shares of Clarivate by 52.4% during the fourth quarter. Iridian Asset Management LLC CT now owns 1,528,410 shares of the company’s stock valued at $5,105,000 after purchasing an additional 525,452 shares during the last quarter. KBC Group NV acquired a new stake in Clarivate during the 1st quarter worth about $4,118,000. Arrowstreet Capital Limited Partnership purchased a new stake in Clarivate during the first quarter valued at about $3,342,000. Finally, Empowered Funds LLC increased its position in shares of Clarivate by 418.6% in the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock worth $5,100,000 after acquiring an additional 1,627,159 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.