Royal Bank of Canada Has Lowered Expectations for Clarivate (NYSE:CLVT) Stock Price

Clarivate (NYSE:CLVT) had its price objective decreased by Royal Bank of Canada from $7.00 to $6.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages also recently weighed in on CLVT. Barclays lowered their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.25.

Clarivate Stock Down 2.4 %

Shares of NYSE:CLVT opened at $4.57 on Thursday. Clarivate has a 1-year low of $4.55 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $3.31 billion, a P/E ratio of -2.30 and a beta of 1.18. The firm has a fifty day moving average price of $6.56 and a 200 day moving average price of $6.27.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.99%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Sell-side analysts predict that Clarivate will post 0.64 EPS for the current year.

Insider Activity at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction 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 transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bar Veinstein sold 120,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,646 shares of company stock worth $1,379,111 over the last three months. 22.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clarivate

Several hedge funds have recently bought and sold shares of the company. Baupost Group LLC MA increased its stake in Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after purchasing an additional 8,331,233 shares in the last quarter. Impactive Capital LP increased its stake in Clarivate by 0.3% in the 1st quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock valued at $281,502,000 after purchasing an additional 109,247 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Clarivate by 31.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after purchasing an additional 2,332,388 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Clarivate by 19.0% in the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after purchasing an additional 1,157,976 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

About Clarivate

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.