Clarivate PLC (NYSE:CLVT) Given Consensus Rating of “Reduce” by Brokerages

Shares of Clarivate PLC (NYSE:CLVTGet Free Report) have earned a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.0167.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group decreased their target price on Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Citigroup dropped their price objective on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Barclays reduced their price objective on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company 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. Finally, Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st.

Check Out Our Latest Report on Clarivate

Insider Transactions at Clarivate

In other news, Director Kenneth L. Cornick bought 250,000 shares of Clarivate stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average price of $1.85 per share, for a total transaction of $462,500.00. Following the purchase, the director directly owned 2,000,000 shares of the company’s stock, valued at approximately $3,700,000. The trade was a 14.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew Snyder sold 2,489,618 shares of the firm’s 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 transaction, the director owned 3,856,597 shares of the company’s stock, valued at approximately $7,481,798.18. The trade was a 39.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 22.88% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Hedge funds have recently bought and sold shares of the stock. Abel Hall LLC increased its stake in shares of Clarivate by 12.4% during the first quarter. Abel Hall LLC now owns 54,302 shares of the company’s stock worth $137,000 after acquiring an additional 5,972 shares during the period. Parallel Advisors LLC grew its position in shares of Clarivate by 94.2% in the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after purchasing an additional 6,687 shares during the last quarter. Royal Bank of Canada increased its position in Clarivate by 44.8% during the first quarter. Royal Bank of Canada now owns 32,818 shares of the company’s stock worth $83,000 after buying an additional 10,149 shares in the last quarter. Ancora Advisors LLC raised its stake in Clarivate by 12.3% in the 2nd quarter. Ancora Advisors LLC now owns 100,000 shares of the company’s stock valued at $216,000 after purchasing an additional 10,970 shares during the last quarter. Finally, Personal CFO Solutions LLC acquired a new position in shares of Clarivate in the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

CLVT stock opened at $1.90 on Friday. Clarivate has a twelve month low of $1.66 and a twelve month high of $4.17. The business’s fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $2.31. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -3.66 and a beta of 1.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93.

Clarivate (NYSE:CLVTGet Free Report) last issued 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 negative net margin of 13.84% and a positive return on equity of 9.15%. 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 earned $0.18 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts predict that Clarivate will post 0.67 earnings per share for the current year.

Clarivate Company Profile

(Get Free Report)

Clarivate Plc (NYSE: CLVT) provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.

The company’s offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.

Further Reading

Analyst Recommendations for Clarivate (NYSE:CLVT)

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