Clarivate Plc (NYSE:CLVT) Given Average Recommendation of “Hold” by Brokerages

Clarivate Plc (NYSE:CLVT) has been given an average recommendation of “Hold” by the eight analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $7.75.

A number of brokerages recently commented on CLVT. Barclays reduced their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada reduced their price objective on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th.

Insider Buying and Selling at Clarivate

In related news, Director Andrew Miles Snyder acquired 28,938 shares of Clarivate stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the transaction, the director now directly owns 288,334 shares of the company’s stock, valued at $1,582,953.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrew Miles Snyder acquired 28,938 shares of Clarivate stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the purchase, the director now directly owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The disclosure for this purchase can be found here. 22.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of Clarivate by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,645,333 shares of the company’s stock valued at $43,016,000 after purchasing an additional 149,573 shares during the period. Dimensional Fund Advisors LP boosted its stake in Clarivate by 40.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,807,785 shares of the company’s stock worth $72,304,000 after buying an additional 2,254,302 shares during the last quarter. Norges Bank purchased a new stake in Clarivate in the 4th quarter valued at about $54,457,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Clarivate during the 4th quarter valued at about $25,576,000. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Clarivate by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 208,731 shares of the company’s stock worth $1,933,000 after acquiring an additional 2,040 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Trading Down 0.4 %

Shares of Clarivate stock opened at $6.94 on Friday. The company has a fifty day simple moving average of $6.47 and a 200-day simple moving average of $6.45. Clarivate has a 12-month low of $4.97 and a 12-month high of $9.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of -4.18, a PEG ratio of 3.24 and a beta of 1.17.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. During the same quarter last year, the company posted $0.16 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Clarivate will post 0.64 EPS for the current fiscal year.

Clarivate Company Profile

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.