Clarivate (NYSE:CLVT) Director Acquires $462,500.00 in Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick bought 250,000 shares of Clarivate stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $1.85 per share, for a total transaction of $462,500.00. Following the transaction, the director directly owned 2,000,000 shares of the company’s stock, valued at approximately $3,700,000. This trade represents a 14.29% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Clarivate Stock Performance

NYSE CLVT opened at $1.86 on Thursday. The stock has a market cap of $1.19 billion, a PE ratio of -3.58 and a beta of 1.40. The company has a current ratio of 0.85, a quick 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 fifty day simple moving average of $2.17 and a 200-day simple moving average of $2.34.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $589.73 million. During the same period in the previous year, the firm earned $0.18 EPS. Clarivate’s revenue was down 5.5% on a year-over-year basis. Equities analysts anticipate that Clarivate PLC will post 0.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLVT. Personal CFO Solutions LLC purchased a new stake in Clarivate during the 1st quarter worth approximately $30,000. FreeGulliver LLC purchased a new position in Clarivate in the 1st quarter valued at approximately $30,000. Principal Financial Group Inc. acquired a new position in shares of Clarivate in the first quarter worth $32,000. M&T Bank Corp acquired a new position in shares of Clarivate in the fourth quarter worth $34,000. Finally, Parallel Advisors LLC increased its position in shares of Clarivate by 94.2% during the first 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 and hedge funds own 85.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CLVT shares. Barclays reduced their price target on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group cut their target price on Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, Stifel Nicolaus decreased their price target on Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $3.02.

Clarivate Company Profile

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.