Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis Purchases 1,500,000 Shares

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis purchased 1,500,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the purchase, the director now owns 1,500,000 shares in the company, valued at $7,665,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $5.25 on Friday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -2.64 and a beta of 1.18. Clarivate Plc has a one year low of $4.25 and a one year high of $9.60. The business has a fifty day simple moving average of $6.19 and a 200 day simple moving average of $6.12. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The company had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CLVT shares. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reduced their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Barclays lowered their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.25.

Hedge Funds Weigh In On Clarivate

A number of hedge funds have recently modified their holdings of CLVT. SkyView Investment Advisors LLC grew its position in Clarivate by 3.8% in the third quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock valued at $1,149,000 after acquiring an additional 5,945 shares during the period. Virtu Financial LLC bought a new stake in shares of Clarivate in the 3rd quarter worth about $236,000. Geode Capital Management LLC increased its position in shares of Clarivate by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after purchasing an additional 571,289 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Clarivate during the 3rd quarter valued at about $1,072,000. Finally, XTX Topco Ltd boosted its position in Clarivate by 22.7% in the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock valued at $381,000 after buying an additional 9,934 shares in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

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.