Clarivate (NYSE:CLVT) Sets New 1-Year Low – Here’s What Happened

Clarivate Plc (NYSE:CLVT) shares hit a new 52-week low on Wednesday . The stock traded as low as $4.89 and last traded at $5.29, with a volume of 236777 shares. The stock had previously closed at $6.59.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CLVT shares. Barclays cut their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday. Royal Bank of Canada cut their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.25.

Clarivate Stock Performance

The stock’s 50-day simple moving average is $6.60 and its 200 day simple moving average is $6.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $3.31 billion, a PE ratio of -2.45 and a beta of 1.18.

Clarivate (NYSE:CLVT) last announced 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. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. During the same period in the prior year, the firm posted $0.16 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, research analysts expect that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Clarivate

In other news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction 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 in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Bar Veinstein sold 60,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares in the company, valued at $6,416,081. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. Insiders own 23.14% of the company’s stock.

Institutional Trading of Clarivate

A number of large investors have recently bought and sold shares of CLVT. Quantbot Technologies LP purchased a new position in Clarivate during the 1st quarter worth $623,000. Illinois Municipal Retirement Fund purchased a new position in shares of Clarivate in the 1st quarter valued at about $611,000. Sei Investments Co. increased its holdings in shares of Clarivate by 391.8% in the 1st quarter. Sei Investments Co. now owns 72,571 shares of the company’s stock valued at $539,000 after purchasing an additional 57,815 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Clarivate by 40.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 3,884,650 shares of the company’s stock valued at $28,863,000 after purchasing an additional 1,122,650 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in Clarivate by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 450,062 shares of the company’s stock valued at $3,344,000 after acquiring an additional 11,052 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.