Insider Selling: Clarivate Plc (NYSE:CLVT) Insider Sells 60,000 Shares of Stock

Clarivate Plc (NYSE:CLVT) insider Bar Veinstein sold 60,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares in the company, valued at $6,416,081. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bar Veinstein also recently made the following trade(s):

• On Thursday, September 19th, Bar Veinstein sold 120,000 shares of Clarivate stock. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00.

Clarivate Stock Performance

CLVT traded down $0.01 during trading on Thursday, reaching $6.70. 2,782,851 shares of the company’s stock were exchanged, compared to its average volume of 4,207,748. Clarivate Plc has a fifty-two week low of $4.97 and a fifty-two week high of $9.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $6.59 and a 200 day moving average price of $6.39. The company has a market capitalization of $4.48 billion, a P/E ratio of -4.00 and a beta of 1.17.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping 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 firm had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts predict that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clarivate

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Clarivate in the 2nd quarter valued at $26,000. Evermay Wealth Management LLC acquired a new stake in shares of Clarivate in the 1st quarter valued at $31,000. Truist Financial Corp acquired a new stake in shares of Clarivate in the 2nd quarter valued at $63,000. Forum Financial Management LP acquired a new stake in shares of Clarivate in the 2nd quarter valued at $75,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Clarivate in the 1st quarter valued at $76,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CLVT shares. Royal Bank of Canada dropped their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.58.

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.