Clarivate PLC (NYSE:CLVT) Given Consensus Rating of “Reduce” by Brokerages

Shares of Clarivate PLC (NYSE:CLVT) have received a consensus recommendation of “Reduce” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $3.0167.

Several equities analysts recently commented on the stock. Citigroup reduced their price objective on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, July 30th. The Goldman Sachs Group lowered their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Stifel Nicolaus cut their price target on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. Finally, Barclays decreased their price target on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Thursday, July 30th.

Clarivate Price Performance

Clarivate stock opened at $2.08 on Monday. The firm has a market capitalization of $1.33 billion, a P/E ratio of -4.01 and a beta of 1.40. Clarivate has a one year low of $1.66 and a one year high of $4.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day moving average price of $2.11 and a 200-day moving average price of $2.31.

Clarivate (NYSE:CLVT) last issued its earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The business had revenue of $587.30 million during the quarter, compared to the consensus estimate of $589.73 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Clarivate will post 0.67 EPS for the current year.

Insider Transactions at Clarivate

In other news, Director Andrew Miles Snyder sold 2,489,618 shares of Clarivate stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the completion of the sale, the director owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This trade represents a 39.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth L. Cornick acquired 650,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average cost of $1.86 per share, with a total value of $1,209,000.00. Following the acquisition, the director directly owned 1,750,000 shares of the company’s stock, valued at $3,255,000. This represents a 59.09% increase in their position. The SEC filing for this purchase provides additional information. 22.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clarivate

Several hedge funds have recently bought and sold shares of the stock. Personal CFO Solutions LLC purchased a new position in Clarivate in the 1st quarter worth approximately $30,000. FreeGulliver LLC purchased a new stake in shares of Clarivate during the 1st quarter valued at $30,000. Principal Financial Group Inc. bought a new stake in shares of Clarivate during the 1st quarter worth $32,000. M&T Bank Corp bought a new stake in shares of Clarivate during the 4th quarter worth $34,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Clarivate by 94.2% during the 1st quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock worth $35,000 after acquiring an additional 6,687 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.