Key Points
- Clarivate director Andrew Miles Snyder sold 2.49 million shares for approximately $4.83 million at an average price of $1.94, reducing his stake by 39.23% to 3.86 million shares.
- Clarivate’s latest quarterly results slightly exceeded EPS expectations, but revenue fell 5.5% year over year to $587.3 million and the company reported a negative 13.84% net margin.
- Analyst sentiment remains cautious: the consensus rating is “Reduce,” with a $3.02 target price, while the stock recently traded near its 12-month low at $1.94.
Clarivate PLC (NYSE:CLVT - Get Free Report) Director Andrew Miles Snyder sold 2,489,618 shares of the company's stock in a transaction that occurred on 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 owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This represents a 39.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Clarivate Price Performance
Shares of NYSE CLVT opened at $1.94 on Thursday. 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 stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.73 and a beta of 1.40. The firm's 50 day simple moving average is $2.24 and its 200-day simple moving average is $2.38. Clarivate PLC has a 12 month low of $1.66 and a 12 month high of $4.55.
Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) 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 firm had revenue of $587.30 million during the quarter, compared to analysts' expectations of $589.73 million. During the same period in the previous year, the business posted $0.18 EPS. The business's 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 year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of CLVT. Personal CFO Solutions LLC acquired a new position in shares of Clarivate during the first quarter valued at approximately $30,000. FreeGulliver LLC acquired a new stake in shares of Clarivate in the first quarter worth approximately $30,000. Principal Financial Group Inc. purchased a new stake in shares of Clarivate during the first quarter worth approximately $32,000. M&T Bank Corp purchased a new stake in shares of Clarivate during the fourth quarter worth approximately $34,000. Finally, Parallel Advisors LLC raised its stake in Clarivate by 94.2% in the 1st 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. 85.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CLVT has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on Clarivate from $2.90 to $2.60 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Barclays lowered their price target on Clarivate from $2.50 to $2.00 and set an "underweight" rating on the stock in a research report on Thursday, July 30th. Citigroup dropped their price objective on Clarivate from $2.80 to $2.50 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus reduced their target price on Clarivate from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $3.02.
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About Clarivate
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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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