Clarivate (NYSE:CLVT) Given New $6.00 Price Target at Royal Bank of Canada

Clarivate (NYSE:CLVT) had its price objective reduced by Royal Bank of Canada from $7.00 to $6.00 in a research report released on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

Other research analysts have also recently issued reports about the company. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Barclays cut their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.25.

Clarivate Stock Performance

NYSE CLVT traded down $0.11 during trading on Thursday, hitting $4.57. The company’s stock had a trading volume of 7,629,428 shares, compared to its average volume of 4,298,344. Clarivate has a 52 week low of $4.55 and a 52 week high of $9.60. The firm has a market cap of $3.31 billion, a P/E ratio of -2.45 and a beta of 1.18. The firm has a 50 day moving average price of $6.60 and a 200 day moving average price of $6.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

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

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were 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 approximately $6,416,081. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,646 shares of company stock worth $1,379,111 over the last 90 days. Insiders own 23.14% of the company’s stock.

Institutional Trading of Clarivate

Several hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC bought a new stake in shares of Clarivate in the third quarter valued at about $101,000. OneDigital Investment Advisors LLC lifted its position in shares of 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 in the last quarter. KBC Group NV lifted its position in Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after buying an additional 2,549 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Clarivate by 21.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock worth $254,000 after buying an additional 6,284 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Clarivate in the 3rd quarter valued at about $142,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.