Clarivate (NYSE:CLVT) Director Acquires $792,000.00 in Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick purchased 225,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average price of $3.52 per share, for a total transaction of $792,000.00. Following the transaction, the director directly owned 1,000,000 shares in the company, valued at $3,520,000. This trade represents a 29.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Clarivate Stock Performance

CLVT stock traded up $0.15 during trading on Monday, hitting $3.55. The company had a trading volume of 6,074,979 shares, compared to its average volume of 3,641,681. The firm has a market cap of $2.34 billion, a PE ratio of -6.22 and a beta of 1.43. Clarivate PLC has a 1-year low of $3.04 and a 1-year high of $6.70. The firm has a 50-day moving average price of $3.91 and a 200-day moving average price of $4.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $623.10 million for the quarter, compared to analysts’ expectations of $570.35 million. Clarivate had a positive return on equity of 8.55% and a negative net margin of 15.83%.The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, analysts expect that Clarivate PLC will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On Clarivate

A number of institutional investors and hedge funds have recently bought and sold shares of CLVT. Millstone Evans Group LLC increased its holdings in shares of Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company’s stock worth $30,000 after buying an additional 4,605 shares during the last quarter. Parallel Advisors LLC increased its holdings in Clarivate by 688.8% in the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after purchasing an additional 7,157 shares in the last quarter. MQS Management LLC acquired a new stake in Clarivate in the 1st quarter valued at $44,000. Wedmont Private Capital acquired a new stake in Clarivate in the 2nd quarter valued at $53,000. Finally, Pitcairn Co. acquired a new stake in Clarivate in the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLVT. Weiss Ratings restated a “sell (d-)” rating on shares of Clarivate in a research report on Tuesday, October 14th. Wolfe Research initiated coverage on Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Jefferies Financial Group initiated coverage on Clarivate in a research report on Friday, July 18th. They set a “hold” rating and a $4.50 target price on the stock. Finally, The Goldman Sachs Group set a $4.20 target price on Clarivate in a research report on Thursday. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $4.68.

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.