Clarivate Plc (NYSE:CLVT) Receives Consensus Recommendation of “Hold” from Analysts

Clarivate Plc (NYSE:CLVTGet Free Report) has earned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.10.

Several equities research analysts have recently weighed in on CLVT shares. Barclays decreased their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased 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 note on Thursday, November 7th.

Check Out Our Latest Report on CLVT

Clarivate Stock Up 0.1 %

Shares of NYSE:CLVT opened at $5.51 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. Clarivate has a 1 year low of $4.25 and a 1 year high of $9.60. The stock has a market capitalization of $3.91 billion, a P/E ratio of -2.77 and a beta of 1.14. The stock has a 50-day simple moving average of $5.27 and a 200-day simple moving average of $5.97.

Clarivate (NYSE:CLVTGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The company had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same period in the previous year, the firm earned $0.18 earnings per share. Clarivate’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities analysts forecast that Clarivate will post 0.63 earnings per share for the current year.

Clarivate declared that its board has approved a share buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Clarivate

In other news, Director Michael J. Angelakis bought 765,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was bought at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the transaction, the director now owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 22.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clarivate

Several large investors have recently added to or reduced their stakes in CLVT. KBC Group NV raised its holdings in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after purchasing an additional 2,549 shares during the period. Integrated Investment Consultants LLC raised its stake in Clarivate by 2.9% during the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock worth $686,000 after acquiring an additional 2,696 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in 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 acquiring an additional 2,865 shares during the last quarter. GAMMA Investing LLC boosted its stake in Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after acquiring an additional 3,245 shares during the period. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Clarivate by 3.8% during the third quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock valued at $1,149,000 after purchasing an additional 5,945 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

Clarivate Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Clarivate (NYSE:CLVT)

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