Clarivate (NYSE:CLVT) Shares Down 7.7% – Should You Sell?

Clarivate PLC (NYSE:CLVT) shares were down 7.7% during trading on Thursday. The company traded as low as $1.64 and last traded at $1.6250. Approximately 1,889,026 shares were traded during trading, a decline of 68% from the average daily volume of 5,983,443 shares. The stock had previously closed at $1.76.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CLVT. Morgan Stanley initiated coverage on Clarivate in a report on Friday. They set an “underweight” rating and a $1.50 price objective for the company. Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, September 21st. Stifel Nicolaus reduced their price objective on Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Barclays reduced their price target on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $2.77.

Clarivate Trading Down 4.4%

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 capitalization of $1.05 billion, a P/E ratio of -3.16 and a beta of 1.40. The stock’s 50-day simple moving average is $1.82 and its two-hundred day simple moving average is $2.23.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $587.30 million for the quarter, compared to analysts’ expectations of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 earnings per share. Equities research analysts expect that Clarivate PLC will post 0.67 EPS for the current year.

Insider Transactions at Clarivate

In other Clarivate news, Director Andrew Snyder sold 2,489,618 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1.94, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kenneth L. Cornick bought 650,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $1.86 per share, with a total value of $1,209,000.00. Following the completion of the purchase, the director directly owned 1,750,000 shares of the company’s stock, valued at approximately $3,255,000. The trade was a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. 22.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLVT. First Trust Advisors LP grew its stake in shares of Clarivate by 10.3% in the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock valued at $13,972,000 after acquiring an additional 516,418 shares in the last quarter. KBC Group NV purchased a new position in Clarivate during the 1st quarter valued at about $4,118,000. Arrowstreet Capital Limited Partnership bought a new position in Clarivate during the 1st quarter valued at about $3,342,000. Empowered Funds LLC boosted its stake 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 purchasing an additional 1,627,159 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in shares of Clarivate in the 1st quarter worth approximately $1,159,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.