Clarivate PLC (NYSE:CLVT - Get Free Report) Director Kenneth Cornick purchased 250,000 shares of Clarivate stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $1.85 per share, with a total value of $462,500.00. Following the transaction, the director owned 2,000,000 shares in the company, valued at approximately $3,700,000. The trade was a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Clarivate Price Performance
Shares of CLVT opened at $1.90 on Tuesday. 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 PLC has a twelve month low of $1.66 and a twelve month high of $4.55. The stock has a market capitalization of $1.22 billion, a P/E ratio of -3.65 and a beta of 1.40. The company has a 50 day moving average of $2.19 and a 200-day moving average of $2.36.
Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $589.73 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Clarivate PLC will post 0.67 EPS for the current fiscal year.
Hedge Funds Weigh In On Clarivate
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Personal CFO Solutions LLC acquired a new position in Clarivate during the first quarter worth approximately $30,000. FreeGulliver LLC bought a new stake in Clarivate in the first quarter valued at approximately $30,000. Principal Financial Group Inc. acquired a new stake in shares of Clarivate in the first quarter valued at approximately $32,000. M&T Bank Corp acquired a new stake in shares of Clarivate in the fourth quarter valued at approximately $34,000. Finally, Parallel Advisors LLC boosted its stake in shares of Clarivate by 94.2% during the 1st quarter. Parallel Advisors LLC now owns 13,786 shares of the company's stock worth $35,000 after acquiring an additional 6,687 shares during the period. Institutional investors own 85.72% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on CLVT. Barclays cut their price target on shares of Clarivate from $2.50 to $2.00 and set an "underweight" rating on the stock in a research report on Thursday, July 30th. Citigroup lowered their target price on Clarivate from $2.80 to $2.50 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Wall Street Zen lowered Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Stifel Nicolaus reduced their price target on Clarivate from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Clarivate in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $3.02.
View Our Latest Stock Analysis on Clarivate
Clarivate Company Profile
(
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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