Clarivate Plc (NYSE:CLVT) Given Consensus Rating of “Hold” by Brokerages

Clarivate Plc (NYSE:CLVT) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.58.

A number of equities research analysts have recently issued reports on CLVT shares. Royal Bank of Canada cut their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays cut their price objective on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th.

Insider Buying and Selling

In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,646 shares of company stock worth $1,379,111 over the last quarter. 22.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clarivate

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Clarivate by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock valued at $168,000 after acquiring an additional 1,580 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Clarivate by 2.5% during the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock valued at $479,000 after purchasing an additional 2,064 shares in the last quarter. Ironwood Investment Counsel LLC lifted its holdings in Clarivate by 3.5% in the first quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company’s stock worth $566,000 after purchasing an additional 2,575 shares during the period. Evermay Wealth Management LLC bought a new position in Clarivate in the 1st quarter valued at about $31,000. Finally, Nisa Investment Advisors LLC acquired a new position in Clarivate during the 2nd quarter valued at about $26,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Trading Up 0.2 %

NYSE:CLVT opened at $6.61 on Monday. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of -3.46 and a beta of 1.18. Clarivate has a one year low of $4.97 and a one year high of $9.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. The business’s 50-day simple moving average is $6.68 and its 200 day simple moving average is $6.33.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The company had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. As a group, sell-side analysts predict that Clarivate will post 0.64 earnings per share for the current fiscal year.

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.