Clarivate (NYSE:CLVT) Downgraded to “Market Perform” Rating by William Blair

Clarivate (NYSE:CLVT) was downgraded by equities researchers at William Blair from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

Other research analysts have also issued reports about the stock. Barclays decreased their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.25.

Clarivate Trading Down 2.5 %

Shares of NYSE:CLVT opened at $4.68 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50 day moving average price of $6.64 and a 200-day moving average price of $6.31. Clarivate has a 52-week low of $4.57 and a 52-week high of $9.60.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Clarivate will post 0.64 EPS for the current year.

Insider Transactions at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,646 shares of company stock worth $1,379,111. Corporate insiders own 23.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLVT. Baupost Group LLC MA raised its stake in Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after buying an additional 8,331,233 shares during the last quarter. Impactive Capital LP increased its position in Clarivate by 0.3% during the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock valued at $281,502,000 after acquiring an additional 109,247 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after acquiring an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in Clarivate by 31.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after purchasing an additional 2,332,388 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Clarivate by 19.0% during the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after purchasing an additional 1,157,976 shares during the period. Institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

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.