Clarivate (NYSE:CLVT) Trading 4.1% Higher – Still a Buy?

Clarivate PLC (NYSE:CLVT) shares traded up 4.1% on Tuesday . The company traded as high as $2.11 and last traded at $2.1350. 157,091 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 6,487,287 shares. The stock had previously closed at $2.05.

Analyst Ratings Changes

CLVT has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price target on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a research note on Wednesday, June 24th. Barclays decreased their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group reduced their price target on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research report on Thursday, July 30th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Clarivate has an average rating of “Reduce” and an average price target of $3.02.

Clarivate Price Performance

The firm has a 50-day simple moving average of $2.12 and a 200-day simple moving average of $2.30. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $1.32 billion, a PE ratio of -3.97 and a beta of 1.40.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The company had revenue of $587.30 million for the quarter, compared to analysts’ expectations of $589.73 million. During the same period last year, the firm earned $0.18 EPS. Clarivate’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Clarivate PLC will post 0.67 earnings per share for the current year.

Insider Activity

In related news, Director Kenneth L. Cornick bought 650,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was bought at an average cost of $1.86 per share, with a total value of $1,209,000.00. Following the completion of the purchase, the director owned 1,750,000 shares of the company’s stock, valued at approximately $3,255,000. The trade was a 59.09% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew Miles Snyder sold 2,489,618 shares of Clarivate stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total value of $4,829,858.92. Following the completion of the sale, the director directly owned 3,856,597 shares in the company, valued at $7,481,798.18. This trade represents a 39.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 22.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Clarivate

A number of hedge funds have recently bought and sold shares of CLVT. First Trust Advisors LP lifted its holdings in shares of Clarivate by 10.3% in the 1st quarter. First Trust Advisors LP now owns 5,522,601 shares of the company’s stock valued at $13,972,000 after acquiring an additional 516,418 shares during the last quarter. KBC Group NV purchased a new position in shares of Clarivate during the first quarter valued at approximately $4,118,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Clarivate during the first quarter valued at approximately $3,342,000. Empowered Funds LLC grew its position in Clarivate by 418.6% in the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after acquiring an additional 1,627,159 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. increased its stake in Clarivate by 51.7% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 4,345,321 shares of the company’s stock worth $14,513,000 after buying an additional 1,480,300 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.