Clarivate (NYSE:CLVT) Stock Price Up 6.8% – Time to Buy?

Clarivate Plc (NYSE:CLVT) shares were up 6.8% during mid-day trading on Wednesday . The stock traded as high as $5.21 and last traded at $5.20. Approximately 3,421,125 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 4,464,078 shares. The stock had previously closed at $4.87.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CLVT shares. Royal Bank of Canada cut their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays cut their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $7.25.

Clarivate Stock Up 4.1 %

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 company has a market cap of $3.60 billion, a P/E ratio of -2.45 and a beta of 1.18. The company has a fifty day moving average of $6.27 and a 200 day moving average of $6.15.

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

Insider Activity

In related news, Director Saurabh Saha sold 17,646 shares of the business’s 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 transaction, the director now directly owns 23,741 shares in the company, valued at $160,251.75. The trade was a 42.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now owns 976,583 shares in the company, valued at $6,836,081. The trade was a 10.94 % 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 insiders.

Institutional Trading of Clarivate

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in shares of Clarivate in the third quarter worth about $236,000. Geode Capital Management LLC lifted its holdings in Clarivate by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock valued at $51,443,000 after purchasing an additional 571,289 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Clarivate during the 3rd quarter valued at about $1,072,000. XTX Topco Ltd increased its holdings in shares of Clarivate by 22.7% in the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock valued at $381,000 after purchasing an additional 9,934 shares during the last quarter. Finally, Repertoire Partners LP boosted its stake in Clarivate by 139.2% during the third quarter. Repertoire Partners LP now owns 76,329 shares of the company’s stock worth $542,000 after buying an additional 44,413 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.