Clarivate Plc (NYSE:CLVT) Director Buys $158,869.62 in Stock

Clarivate Plc (NYSE:CLVT) Director Andrew Miles Snyder purchased 28,938 shares of the stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the acquisition, the director now directly owns 288,334 shares in the company, valued at $1,582,953.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Clarivate Stock Down 0.9 %

NYSE CLVT opened at $6.15 on Thursday. The stock’s 50-day moving average price is $5.90 and its 200-day moving average price is $6.83. The company has a market capitalization of $4.11 billion, a P/E ratio of -3.70, a price-to-earnings-growth ratio of 4.38 and a beta of 1.15. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.03. Clarivate Plc has a 52 week low of $4.97 and a 52 week high of $9.60.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $650.30 million for the quarter, compared to analysts’ expectations of $651.94 million. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. On average, equities research analysts predict that Clarivate Plc will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new stake in Clarivate during the fourth quarter valued at about $25,576,000. Glenview Capital Management LLC raised its stake in Clarivate by 22.2% during the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after purchasing an additional 4,472,302 shares during the period. Capital World Investors purchased a new position in Clarivate in the 1st quarter worth approximately $30,104,000. Confluence Investment Management LLC bought a new position in Clarivate in the 1st quarter worth approximately $18,389,000. Finally, Norges Bank purchased a new stake in Clarivate during the 4th quarter valued at approximately $54,457,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CLVT shares. Royal Bank of Canada lowered their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. The Goldman Sachs Group lowered their price objective on shares of Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Finally, Barclays cut their target price on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.75.

Clarivate Company Profile

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.