Clarivate (NYSE:CLVT) Hits New 12-Month Low – Should You Sell?

Clarivate PLC (NYSE:CLVT) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $1.66 and last traded at $1.6650, with a volume of 637032 shares changing hands. The stock had previously closed at $1.71.

Analyst Upgrades and Downgrades

Several research analysts have commented on CLVT shares. Citigroup cut their price target on Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. The Goldman Sachs Group lowered their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Barclays reduced their price target on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Monday, September 21st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $3.02.

Clarivate Stock Performance

The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The stock has a fifty day moving average price of $1.98 and a 200-day moving average price of $2.27. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -3.20 and a beta of 1.39.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The firm had revenue of $587.30 million during the quarter, compared to the consensus estimate of $589.73 million. During the same period last year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts expect that Clarivate PLC will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Clarivate

In other news, Director Andrew Snyder sold 2,489,618 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the transaction, the director directly owned 3,856,597 shares in the company, valued at $7,481,798.18. The trade was a 39.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth L. Cornick acquired 250,000 shares of the stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $1.85 per share, for a total transaction of $462,500.00. Following the acquisition, the director directly owned 2,000,000 shares in the company, valued at $3,700,000. This represents a 14.29% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 22.88% of the stock is currently owned by company insiders.

Institutional Trading of Clarivate

Several hedge funds have recently modified their holdings of CLVT. Invenomic Capital Management LP boosted its stake in shares of Clarivate by 3.8% in the fourth quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company’s stock valued at $30,158,000 after buying an additional 326,369 shares in the last quarter. BW Gestao de Investimentos Ltda. raised its position in Clarivate by 51.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 4,345,321 shares of the company’s stock worth $14,513,000 after acquiring an additional 1,480,300 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Clarivate by 10.3% in the 1st quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock valued at $13,972,000 after purchasing an additional 516,418 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Clarivate by 418.6% during the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after acquiring an additional 1,627,159 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Clarivate by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 1,845,148 shares of the company’s stock worth $4,668,000 after purchasing an additional 24,257 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

About Clarivate

Clarivate Plc (NYSE: CLVT) provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.

The company’s offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.