Clarivate PLC (NYSE:CLVT) Receives Average Recommendation of “Reduce” from Brokerages

Clarivate PLC (NYSE:CLVT) has been given a consensus recommendation of “Reduce” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.02.

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday. The Goldman Sachs Group cut 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. Stifel Nicolaus reduced their target price on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Barclays decreased their target price 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

NYSE:CLVT opened at $1.82 on Friday. Clarivate has a one year low of $1.66 and a one year high of $3.96. The stock has a market cap of $1.17 billion, a PE ratio of -3.51 and a beta of 1.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a 50 day moving average price of $2.00 and a 200 day moving average price of $2.28.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $587.30 million for the quarter, compared to analyst estimates of $589.73 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts expect that Clarivate will post 0.67 EPS for the current fiscal year.

Insider Activity at Clarivate

In related news, Director Andrew Snyder sold 2,489,618 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $1.94, for a total value of $4,829,858.92. Following the transaction, the director directly owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This represents a 39.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth Cornick acquired 250,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average price of $1.85 per share, with a total value of $462,500.00. Following the completion of the transaction, the director directly owned 2,000,000 shares of the company’s stock, valued at $3,700,000. This trade represents a 14.29% increase in their position. The SEC filing for this purchase provides additional information. 22.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clarivate

Several large investors have recently modified their holdings of the business. Invenomic Capital Management LP increased its position in shares of Clarivate by 3.8% during the 4th quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company’s stock worth $30,158,000 after purchasing an additional 326,369 shares during the last quarter. BW Gestao de Investimentos Ltda. lifted its position in Clarivate by 51.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 4,345,321 shares of the company’s stock valued at $14,513,000 after buying an additional 1,480,300 shares during the last quarter. First Trust Advisors LP boosted its stake in Clarivate by 10.3% during the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock worth $13,972,000 after buying an additional 516,418 shares during the period. LSV Asset Management boosted its stake in Clarivate by 25.6% during the fourth quarter. LSV Asset Management now owns 2,647,900 shares of the company’s stock worth $8,844,000 after buying an additional 540,400 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Clarivate by 418.6% during the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after acquiring an additional 1,627,159 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

About Clarivate

Clarivate Plc (NYSE: CLVT) provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.

The company’s offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.