Clarivate (NYSE:CLVT) Director Andrew Miles Snyder Sells 2,489,618 Shares of Stock

Clarivate PLC (NYSE:CLVT) Director Andrew Miles Snyder sold 2,489,618 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $1.94, for a total value of $4,829,858.92. Following the sale, the director directly owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. The trade was a 39.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Clarivate Price Performance

CLVT opened at $1.94 on Thursday. The firm has a market capitalization of $1.24 billion, a PE ratio of -3.73 and a beta of 1.40. 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 business’s 50-day moving average is $2.24 and its two-hundred day moving average is $2.38. Clarivate PLC has a 1 year low of $1.66 and a 1 year high of $4.55.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share (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 business had revenue of $587.30 million for the quarter, compared to the consensus estimate of $589.73 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Research analysts anticipate that Clarivate PLC will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CLVT shares. The Goldman Sachs Group dropped their price objective on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Barclays reduced their target price on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research note on Thursday, July 30th. Citigroup lowered their price target on Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Wednesday, June 24th. Finally, Stifel Nicolaus cut their price objective on Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $3.02.

Institutional Trading of Clarivate

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC raised its holdings in shares of Clarivate by 94.2% during the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock worth $35,000 after purchasing an additional 6,687 shares during the last quarter. Amundi grew its position in Clarivate by 1,670.2% during the 1st quarter. Amundi now owns 558,992 shares of the company’s stock worth $1,414,000 after purchasing an additional 527,414 shares during the period. Royal Bank of Canada grew its position in Clarivate by 44.8% during the 1st quarter. Royal Bank of Canada now owns 32,818 shares of the company’s stock worth $83,000 after purchasing an additional 10,149 shares during the period. Empowered Funds LLC raised its stake in shares of Clarivate by 418.6% during the 1st quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock valued at $5,100,000 after buying an additional 1,627,159 shares during the last quarter. Finally, FreeGulliver LLC purchased a new position in shares of Clarivate during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

About Clarivate

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.