Michael J. Angelakis Buys 765,000 Shares of Clarivate Plc (NYSE:CLVT) Stock

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis purchased 765,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the purchase, the director now owns 3,465,000 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website.

Clarivate Trading Up 2.1 %

CLVT opened at $5.25 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The firm has a market cap of $3.73 billion, a P/E ratio of -2.64 and a beta of 1.18. Clarivate Plc has a 52 week low of $4.25 and a 52 week high of $9.60. The business has a fifty day simple moving average of $6.19 and a 200-day simple moving average of $6.12.

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

Analysts Set New Price Targets

A number of research firms recently commented on CLVT. Barclays decreased their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada decreased their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Institutional Investors Weigh In On Clarivate

Several large investors have recently added to or reduced their stakes in CLVT. Nisa Investment Advisors LLC purchased a new position in Clarivate in the 2nd quarter valued at approximately $26,000. KBC Group NV boosted its holdings in Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares during the period. Truist Financial Corp acquired a new position in Clarivate during the 2nd quarter worth $63,000. Forum Financial Management LP purchased a new stake in Clarivate during the 2nd quarter worth about $75,000. Finally, Pitcairn Co. acquired a new stake in Clarivate in the 3rd quarter valued at about $100,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

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.