Clarivate Plc (NYSE:CLVT) Insider Sells $840,000.00 in Stock

Clarivate Plc (NYSE:CLVT) insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now directly owns 976,583 shares of the company’s stock, valued at $6,836,081. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $6.68 on Thursday. The firm’s 50-day moving average price is $6.51 and its two-hundred day moving average price is $6.44. The stock has a market capitalization of $4.84 billion, a P/E ratio of -4.02 and a beta of 1.17. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate Plc has a 52-week low of $4.97 and a 52-week high of $9.60.

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

Wall Street Analysts Forecast Growth

CLVT has been the topic of several recent analyst reports. Royal Bank of Canada dropped their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays reduced their target price on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new position in Clarivate in the 2nd quarter worth approximately $26,000. Evermay Wealth Management LLC acquired a new stake in shares of Clarivate in the first quarter worth $31,000. Truist Financial Corp purchased a new position in shares of Clarivate during the second quarter valued at $63,000. Forum Financial Management LP purchased a new stake in Clarivate in the 2nd quarter worth about $75,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in Clarivate during the 1st quarter worth about $76,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.