Clarivate Plc (NYSE:CLVT) Receives $7.25 Consensus Target Price from Brokerages

Shares of Clarivate Plc (NYSE:CLVT) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.25.

A number of equities research analysts have recently commented on CLVT shares. Barclays lowered their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the acquisition, the director now owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is owned by company insiders.

Institutional Trading of Clarivate

Several large investors have recently added to or reduced their stakes in CLVT. Nisa Investment Advisors LLC acquired a new position in shares of Clarivate during the second quarter worth about $26,000. KBC Group NV raised its holdings in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares during the period. Truist Financial Corp acquired a new position in Clarivate during the 2nd quarter worth approximately $63,000. Forum Financial Management LP acquired a new position in Clarivate during the 2nd quarter worth approximately $75,000. Finally, Pitcairn Co. purchased a new position in Clarivate in the 3rd quarter worth approximately $100,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Price Performance

NYSE:CLVT opened at $5.73 on Friday. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -2.88 and a beta of 1.18. Clarivate has a 12-month low of $4.25 and a 12-month high of $9.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average is $6.08 and its two-hundred day moving average is $6.10.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Research analysts expect that Clarivate will post 0.63 EPS for the current year.

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.