Clarivate (NYSE:CLVT) Stock Rating Lowered by William Blair

Clarivate (NYSE:CLVT) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Briefing.com reports.

Several other analysts have also weighed in on CLVT. Royal Bank of Canada decreased their price target on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Barclays decreased their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.58.

Clarivate Stock Up 2.2 %

Shares of CLVT opened at $6.59 on Wednesday. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -3.45 and a beta of 1.18. Clarivate has a 1 year low of $4.97 and a 1 year high of $9.60. The business’s 50 day simple moving average is $6.68 and its 200-day simple moving average is $6.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90.

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 business had revenue of $650.30 million for the quarter, compared to analysts’ expectations of $651.94 million. During the same period in the prior year, the firm earned $0.16 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Clarivate will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at Clarivate

In related news, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,646 shares of company stock valued at $1,379,111. 23.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC purchased a new position in Clarivate during the second quarter valued at approximately $26,000. Evermay Wealth Management LLC purchased a new position in Clarivate during the first quarter valued at approximately $31,000. Truist Financial Corp purchased a new position in Clarivate during the second quarter valued at approximately $63,000. Forum Financial Management LP purchased a new position in Clarivate during the second quarter valued at approximately $75,000. Finally, Headlands Technologies LLC grew its holdings in Clarivate by 749.2% in the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock valued at $83,000 after purchasing an additional 12,909 shares during the period. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

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.