Clarivate PLC (NYSE:CLVT) Receives Consensus Rating of “Reduce” from Analysts

Shares of Clarivate PLC (NYSE:CLVT) have received a consensus rating of “Reduce” from the eight research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.0167.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Citigroup dropped their price objective on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Clarivate in a report on Wednesday, June 24th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Barclays lowered their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research note on Thursday, July 30th.

Insiders Place Their Bets

In other Clarivate news, Director Andrew Miles Snyder sold 2,489,618 shares of Clarivate stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the completion of the sale, the director directly owned 3,856,597 shares of the company’s stock, valued at $7,481,798.18. The trade was a 39.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Personal CFO Solutions LLC purchased a new stake in Clarivate during the first quarter worth approximately $30,000. FreeGulliver LLC purchased a new position in Clarivate in the first quarter valued at approximately $30,000. Principal Financial Group Inc. purchased a new position in Clarivate in the first quarter valued at approximately $32,000. M&T Bank Corp acquired a new stake in Clarivate during the fourth quarter worth approximately $34,000. Finally, Parallel Advisors LLC lifted its position in shares of Clarivate by 94.2% during the 1st quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock worth $35,000 after buying an additional 6,687 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

Shares of NYSE CLVT opened at $1.94 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -3.73 and a beta of 1.40. The stock’s 50-day moving average is $2.24 and its two-hundred day moving average is $2.38. Clarivate has a 1-year low of $1.66 and a 1-year high of $4.55.

Clarivate (NYSE:CLVT) last announced 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 positive return on equity of 9.15% and a negative net margin of 13.84%.The business had revenue of $587.30 million during the quarter, compared to analysts’ expectations of $589.73 million. During the same quarter last year, the business posted $0.18 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts forecast that Clarivate will post 0.67 EPS for the current fiscal year.

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.