Clarivate (NYSE:CLVT) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Clarivate Plc (NYSE:CLVT) saw strong trading volume on Thursday . 4,348,368 shares changed hands during trading, a decline of 4% from the previous session’s volume of 4,549,830 shares.The stock last traded at $5.76 and had previously closed at $5.75.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Royal Bank of Canada lowered their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Two 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’s stock. Based on data from MarketBeat.com, Clarivate presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Stock Up 0.2 %

The stock’s 50-day moving average price is $6.02 and its two-hundred day moving average price is $6.09. The stock has a market capitalization of $4.09 billion, a PE ratio of -2.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88.

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

Insider Activity

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the purchase, the director now directly owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.77% of the company’s stock.

Institutional Investors Weigh In On Clarivate

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLVT. Price T Rowe Associates Inc. MD raised its stake in Clarivate by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,446 shares of the company’s stock worth $1,839,000 after acquiring an additional 13,103 shares during the period. SG Americas Securities LLC bought a new stake in Clarivate during the 2nd quarter worth approximately $1,410,000. Wealth Enhancement Advisory Services LLC raised its stake in Clarivate by 19.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 52,229 shares of the company’s stock worth $297,000 after acquiring an additional 8,430 shares during the period. Cove Street Capital LLC bought a new stake in Clarivate during the 2nd quarter worth approximately $4,214,000. Finally, Raymond James & Associates raised its position in shares of Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after buying an additional 1,157,976 shares during the last quarter. Institutional investors 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.