Clarivate Plc (NYSE:CLVT) Receives $7.10 Consensus PT from Brokerages

Shares of Clarivate Plc (NYSE:CLVT) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $7.10.

Several equities research analysts have recently commented on CLVT shares. Barclays reduced their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Royal Bank of Canada lowered their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research 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.

Insiders Place Their Bets

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $5.11 per share, with a total value of $7,665,000.00. Following the acquisition, the director now owns 1,500,000 shares in the company, valued at approximately $7,665,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bar Veinstein sold 60,000 shares of the business’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 value of $420,000.00. Following the sale, the insider now directly owns 916,583 shares in the company, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.14% of the company’s stock.

Institutional Trading of Clarivate

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Clarivate by 5.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock worth $168,000 after buying an additional 1,580 shares during the period. Arizona State Retirement System lifted its holdings in shares of Clarivate by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock worth $479,000 after acquiring an additional 2,064 shares during the last quarter. KBC Group NV grew its holdings in Clarivate by 33.2% during the 3rd 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 last quarter. Integrated Investment Consultants LLC raised its position in Clarivate by 2.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock worth $686,000 after purchasing an additional 2,696 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its stake in Clarivate by 2.3% in the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after purchasing an additional 2,865 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

CLVT stock opened at $5.12 on Tuesday. The company has a market cap of $3.64 billion, a P/E ratio of -2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. Clarivate has a 1 year low of $4.25 and a 1 year high of $9.60. The stock’s fifty day moving average price is $5.51 and its 200-day moving average price is $6.02.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $622.20 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities analysts forecast that Clarivate will post 0.63 earnings per share for the current year.

Clarivate declared that its board has authorized a stock buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.