Clarivate Plc (NYSE:CLVT) Director Acquires $3,970,350.00 in Stock

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis purchased 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Clarivate Trading Up 2.1 %

Shares of CLVT opened at $5.25 on Monday. Clarivate Plc has a 12 month low of $4.25 and a 12 month high of $9.60. The stock’s 50-day moving average is $6.19 and its two-hundred day moving average is $6.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $3.73 billion, a PE ratio of -2.64 and a beta of 1.18.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same period in the previous year, the company posted $0.18 EPS. Clarivate’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently added to or reduced their stakes in CLVT. Baupost Group LLC MA grew its stake in shares of Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after acquiring an additional 8,331,233 shares in the last quarter. Capital World Investors purchased a new position in Clarivate in the first quarter valued at about $30,104,000. Dimensional Fund Advisors LP grew its stake in Clarivate by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after purchasing an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in Clarivate by 31.5% during the 2nd 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, Brown Brothers Harriman & Co. raised its position in shares of Clarivate by 37.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after purchasing an additional 1,704,761 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.