Clarivate (NYSE:CLVT) Stock Price Down 5.9% – Should You Sell?

Shares of Clarivate PLC (NYSE:CLVT) were down 5.9% during mid-day trading on Friday. The company traded as low as $1.5250 and last traded at $1.5050. Approximately 2,250,342 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 6,251,355 shares. The stock had previously closed at $1.60.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CLVT shares. Citigroup decreased their price target on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a report on Thursday, July 30th. Barclays lowered their price target on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research note on Monday, September 21st. The Goldman Sachs Group decreased their price objective on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Finally, Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $3.02.

Clarivate Price Performance

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 firm has a market cap of $962.69 million, a price-to-earnings ratio of -2.91 and a beta of 1.40. The business’s 50-day moving average price is $1.95 and its two-hundred day moving average price is $2.25.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The firm had revenue of $587.30 million for the quarter, compared to analysts’ expectations of $589.73 million. During the same period in the prior year, the company posted $0.18 earnings per share. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Clarivate PLC will post 0.67 EPS for the current fiscal year.

Insider Transactions at Clarivate

In other news, Director Kenneth L. Cornick acquired 250,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $1.85 per share, with a total value of $462,500.00. Following the completion of the acquisition, the director directly owned 2,000,000 shares in the company, valued at $3,700,000. This represents a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Snyder sold 2,489,618 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1.94, for a total value of $4,829,858.92. Following the sale, the director owned 3,856,597 shares in the company, valued at $7,481,798.18. The trade was a 39.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 22.88% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Institutional investors and hedge funds have recently made changes to their positions in the company. Invenomic Capital Management LP increased its stake in Clarivate by 3.8% during the fourth quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company’s stock valued at $30,158,000 after purchasing an additional 326,369 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Clarivate by 10.3% during the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock valued at $13,972,000 after purchasing an additional 516,418 shares during the last quarter. Empowered Funds LLC raised its position in shares of Clarivate by 418.6% during the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock worth $5,100,000 after purchasing an additional 1,627,159 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Clarivate by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,845,148 shares of the company’s stock worth $4,668,000 after purchasing an additional 24,257 shares during the last quarter. Finally, CenterBook Partners LP boosted its position in Clarivate by 81.8% during the 4th quarter. CenterBook Partners LP now owns 1,369,972 shares of the company’s stock valued at $4,576,000 after purchasing an additional 616,490 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) is a global information services and analytics company that provides data, software and research tools to organizations in academia, government, life sciences, intellectual property and other knowledge-intensive industries.

Its products and services include Web of Science research and citation databases, Derwent Innovation and other intellectual property solutions, life sciences analytics, and workflow and library-management platforms. Through its ProQuest and Ex Libris offerings, Clarivate also supports academic institutions with research content, library systems, discovery tools and digital resources.

Clarivate serves customers internationally, including universities, research organizations, corporations, publishers, government agencies and patent professionals.