Insider Selling: Clarivate (NYSE:CLVT) Director Sells $4,829,858.92 in Stock

Clarivate PLC (NYSE:CLVTGet Free Report) Director Andrew Miles Snyder sold 2,489,618 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the completion of the sale, the director directly owned 3,856,597 shares of the company’s stock, valued at $7,481,798.18. This trade represents a 39.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Clarivate Trading Down 1.9%

CLVT opened at $1.81 on Friday. The firm’s 50 day moving average is $2.21 and its 200-day moving average is $2.37. Clarivate PLC has a 52-week low of $1.66 and a 52-week high of $4.55. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $1.16 billion, a P/E ratio of -3.49 and a beta of 1.40.

Clarivate (NYSE:CLVTGet Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $589.73 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts expect that Clarivate PLC will post 0.67 EPS for the current fiscal year.

Institutional Trading of Clarivate

Several institutional investors and hedge funds have recently bought and sold shares of CLVT. FIL Ltd increased its holdings in shares of Clarivate by 2.3% in the 4th quarter. FIL Ltd now owns 25,266,152 shares of the company’s stock valued at $84,389,000 after acquiring an additional 567,170 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Clarivate by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock worth $83,373,000 after purchasing an additional 696,903 shares during the period. Atairos Partners GP Inc. boosted its holdings in Clarivate by 195.3% in the fourth quarter. Atairos Partners GP Inc. now owns 10,232,667 shares of the company’s stock worth $34,177,000 after purchasing an additional 6,767,667 shares during the period. Invenomic Capital Management LP increased its stake in Clarivate by 3.8% during the fourth quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company’s stock valued at $30,158,000 after purchasing an additional 326,369 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Clarivate by 9.3% during the third quarter. Vanguard Group Inc. now owns 8,922,585 shares of the company’s stock worth $34,173,000 after purchasing an additional 756,722 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Read Our Latest Report on Clarivate

About Clarivate

(Get Free Report)

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.

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