Clarivate (NYSE:CLVT) Hits New 1-Year Low – What’s Next?

Clarivate Plc (NYSE:CLVT) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.89 and last traded at $5.29, with a volume of 236777 shares changing hands. The stock had previously closed at $6.59.

Wall Street Analysts Forecast Growth

CLVT has been the subject of a number of recent analyst reports. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday. Barclays decreased their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada decreased their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Clarivate presently has an average rating of “Hold” and an average price target of $7.25.

Clarivate Trading Down 2.5 %

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. The company has a 50 day simple moving average of $6.60 and a two-hundred day simple moving average of $6.30. The firm has a market cap of $3.31 billion, a PE ratio of -2.45 and a beta of 1.18.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (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 the consensus estimate of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. Clarivate’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 earnings per share. Analysts expect that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock valued at $1,379,111 over the last quarter. 23.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Baupost Group LLC MA grew its position in Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after acquiring an additional 8,331,233 shares during the period. Impactive Capital LP boosted its position in shares of Clarivate by 0.3% during the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock worth $281,502,000 after buying an additional 109,247 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after buying an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after acquiring an additional 2,332,388 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in Clarivate by 19.0% during the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after acquiring an additional 1,157,976 shares in the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

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.