Key Points
- Clarivate director Kenneth Cornick bought 100,000 shares at an average price of $3.45 ($345,000), increasing his holdings to 1,100,000 shares—a 10% ownership increase.
- Clarivate beat Q3 estimates with EPS of $0.18 and revenue of $623.1M versus consensus $0.16 and $570.35M, and set FY2025 guidance of 0.600–0.700 EPS (analyst consensus ~0.63).
- Shares trade near $3.48 with a market cap of $2.3B and a negative P/E of -6.10; analysts' average rating is "Reduce" with a consensus target of $4.90.
Clarivate PLC (NYSE:CLVT - Get Free Report) Director Kenneth Cornick acquired 100,000 shares of Clarivate stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $3.45 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the director directly owned 1,100,000 shares of the company's stock, valued at approximately $3,795,000. This represents a 10.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Clarivate Price Performance
Clarivate stock traded down $0.03 during midday trading on Friday, reaching $3.48. 528,776 shares of the company were exchanged, compared to its average volume of 5,144,458. The firm's 50-day simple moving average is $3.77 and its 200-day simple moving average is $4.09. Clarivate PLC has a 1 year low of $3.04 and a 1 year high of $5.88. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.10 and a beta of 1.43. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87.
Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $623.10 million for the quarter, compared to analysts' expectations of $570.35 million. Clarivate had a negative net margin of 15.83% and a positive return on equity of 8.55%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, analysts anticipate that Clarivate PLC will post 0.63 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Millstone Evans Group LLC increased its position in shares of Clarivate by 156.6% in the first quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock worth $30,000 after acquiring an additional 4,605 shares in the last quarter. Parallel Advisors LLC boosted its position in Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company's stock worth $35,000 after purchasing an additional 7,157 shares during the period. Essex Financial Services Inc. acquired a new stake in Clarivate in the 3rd quarter valued at $41,000. MQS Management LLC acquired a new position in shares of Clarivate during the first quarter worth about $44,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Clarivate in the third quarter worth about $47,000. 85.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CLVT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Clarivate in a research note on Wednesday, November 5th. Wolfe Research assumed coverage on Clarivate in a report on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Jefferies Financial Group started coverage on shares of Clarivate in a research note on Friday, July 18th. They set a "hold" rating and a $4.50 price objective for the company. Finally, The Goldman Sachs Group set a $4.20 price objective on shares of Clarivate in a report on Thursday, October 30th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Clarivate currently has an average rating of "Reduce" and a consensus target price of $4.90.
Get Our Latest Stock Analysis on Clarivate
About Clarivate
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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.
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